Indian Post Payment Banks Flashcards
1
Q
Under what Dept it operates
A
It operates under Dept of Post Of Mo Communications
2
Q
What is the hold of Govt
A
100%
3
Q
Is it a small Bank
A
Nope its a Payment Bank
4
Q
Ok then what are features of open bank
A
1 Deposit of 1 lakh accepted
2 No loans nor credit cards
3 Regular,Digital and basic types of saving account with
interest rate of 4%
4 Door step bank services at charge of Rs15 to 35 per
transaction and limit of Rs10,000.
5
Q
Do payment banks follow SLR and CRR
A
Yes….CRR is must
SLR is at 75%
