Discussion
How many Payment banks were approved by RBI in 2015?
Answer: B
Correct answer: 11
Eleven entities received in-principle approval in August 2015 from 41 applications. The successful group was dominated by telecom operators and payment companies - Airtel, Vodafone, Reliance, Aditya Birla Nuvo, Paytm, Fino, Department of Posts and others - reflecting that distribution reach, rather than banking experience, was the capability the model required.
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