Discussion
Customers can open a saving account in Payment Bank with deposits up to Rs ___ ?
Answer: B
Correct answer: 2,00,000
The limit was raised from Rs 1 lakh to Rs 2 lakh with effect from April 2021, so older material still quotes the earlier figure.
Note that the cap is on the balance held, not on the value that may pass through the account: a customer may receive and spend far more than Rs 2 lakh in a year provided the end-of-day balance stays within the limit.
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