Discussion
Which of the following statements is/are correct about Payment bank?
1. Payment bank will have to keep CRR (Cash reserve ratio) just like other Scheduled commercial banks.
2. The highest balance a bank can hold per customer Rs 50,000.
Answer: A
The highest balance a bank can hold per customer is Rs 1 lakh, against the Mor panel’s recommendation of Rs 50,000.
- While payment banks won’t have to have a quarter of their branches in un-banked rural areas (as applicable for existing banks), they should have at least 25 per cent of their access points in such areas.
- The minimum paid-up capital required for both categories would be Rs 100 crore, of which the promoter would have to contribute at least 40 percent initially, with a five-year lock-in period.
- They would also have to maintain a capital adequacy ratio of 15 percent, though under Basel-I norms.
- If promoter shareholding exceeds 40 percent, it has to be cut to this level within three years of operations, 30 percent within 10 years and 26 percent within 13 years.
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