Discussion
In Payment Banks, the stake of the promoters for the first fiver years should remain at least __ ?
Answer: B
Correct answer: 40 %
The promoter’s minimum initial contribution to paid-up equity capital is 40 per cent, held for the first five years from the commencement of business. Thereafter it may be reduced on the schedule the Reserve Bank prescribes, so the commitment is heaviest during the years in which the bank is establishing itself.
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