Discussion
Payment banks cannot issue financial products such as mutual funds and insurance but they can issue loans to their customers. Is it True or False?
Answer: B
Correct answer: False
The statement is false, and on both counts. A payment bank cannot lend at all - no loans, no credit cards - and it may distribute simple financial products such as mutual funds and insurance as a third-party agent, earning fee income. The sentence has the two permissions exactly the wrong way round.
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