What They Can­not

Consumer Voice - - Bfsi Guide -

Presently, cash trans­ac­tion is lim­ited to Rs 100,000 per cus­tomer. (Pay­ment banks will ini­tially be restricted to hold­ing a max­i­mum bal­ance of Rs 100,000 per in­di­vid­ual cus­tomer, as per RBI press re­lease dated 27.11.2014.) Pay­ment banks are not au­tho­rised to open re­cur­ring de­posits and fixed de­posits (as of now). They can­not is­sue a credit card. Th­ese banks can­not un­der­take any lend­ing ac­tiv­ity. - The pro­vi­sions are silent as re­gards pay­ment of

in­ter­est on SB de­posits.

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