Question

How many firms, recently, have got the licence from RBI for establishing Payment Banks?

Options

• 10

• 11

• 12

• 13

Answer 1

11

Explanation: 
To revolutionise cashless payments services in the country, the Reserve Bank of India has granted payment bank licences to11 firms. This includes telecom companies Vodafone and Airtel; non-banking financial company Cholamandalam Distribution Services Ltd; large conglomerates Reliance Industries and Aditya Birla Nuvo; and individuals Vijay Shekhar Sharma, founder of Paytm, and Dilip Shanghvi, Managing Director of Sun Pharmaceuticals, The  Department of Posts, Fino Paytech, Tech Mahindra and National Securities Depository Ltd.