Discussion
Which of the following activities cannot be undertaken by a Payments Bank?
Answer: C
Correct answer: Lending Money
Lending is the one activity a payments bank cannot undertake at all. It may accept deposits within the cap, make payments and remittances, pay utility bills, issue debit cards and distribute mutual funds and insurance as an agent. Every source of income it has therefore comes from investment returns and fees rather than from a spread on credit.
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