Discussion
For first five years how much paid-up equity capital needs to be maintained by promoters in payments bank?
Answer: C
Correct answer: 40%
The promoter must hold at least 40 per cent of the paid-up equity capital for the first five years from commencement of business, after which the holding may be reduced on a prescribed schedule. The lock-in is there to keep the promoter committed through the years in which the bank is establishing itself.
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