Discussion
The payments bank will be required to use the words ________ in its name in order to differentiate it from other banks.
Answer: B
Correct answer: “Payments Bank”
Every payments bank must carry the words “Payments Bank” in its name, so that customers can see at once that it is a differentiated institution which cannot lend and whose deposits are capped. The requirement is a consumer protection measure, and it is why the names are uniformly of the form Airtel Payments Bank or India Post Payments Bank.
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