Discussion
The promoter’s minimum initial contribution to the paid-up equity capital of payments bank shall at least be ____ per cent for the first five years from the commencement of its business.
Answer: C
Correct answer: 40%
The promoter must contribute at least 40 per cent of the paid-up equity capital and hold it for five years from commencement of business, after which it may be brought down on a prescribed schedule - to 30 per cent within ten years and 15 per cent within twelve. The lock-in ensures the promoter carries the risk through the establishment period.
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