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How many applicants had been granted in-principle approval by RBI to start payments banks?

  • A.11
  • B.10
  • C.9
  • D.6

Answer: A

Correct answer: 11

The Reserve Bank granted in-principle approval to eleven applicants in August 2015, from a field of 41. The approvals were valid for eighteen months, within which each entity had to satisfy the conditions and obtain a final licence. Three of the eleven surrendered their approvals before doing so.

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