Discussion
How many payments banks have actually started operations since RBI has granted the in-principle approval?
Answer: D
Correct answer: 6
Of the eleven granted in-principle approval, three surrendered and the remainder proceeded, giving six payments banks that actually commenced operations - Airtel, India Post, Fino, Jio, NSDL and Paytm. The attrition illustrates how demanding the economics of the model proved: no lending income, a capped deposit base, and a large investment in distribution.
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