Discussion
Which of these entities surrendered their Payments Bank license?
Answer: D
Correct answer: All of the above
Three of the eleven surrendered their in-principle approvals before commencing business: Cholamandalam Distribution Services, the Dilip Shanghvi group associated with Sun Pharmaceuticals, and Tech Mahindra. Each concluded that the economics did not work - no lending income, a capped deposit base, and a heavy investment in distribution before any return.
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