Discussion
What is the maximum end-of-day balance an individual customer may hold in a payments bank?
Answer: B
Correct answer: 200000
The limit was raised from Rs 1 lakh to Rs 2 lakh with effect from April 2021, so older material still quotes the earlier figure.
A payments bank may hold up to Rs 2 lakh per individual customer at the end of any day. The cap exists because the bank is intended for small savers and for payments rather than as a general deposit-taking institution, and it is applied per customer rather than per account.
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