All About Payment Bank ! !
Siddharth DEY
Possibly the only person on LinkedIn who is NOT a leader, Influencer, motivated, result oriented, achiever, visionary, etc etc!
Most of you are already aware of this but I still thought of sharing few details about Payment Bank with you.
What is a Payment Bank?
New stripped-down type of banks, which are expected to reach customers mainly through their mobile phones rather than traditional bank branches.
What they can do and what they can't ?
-They can’t offer loans but can raise deposits of upto Rs. 1 lakh, and pay interest on these balances just like a savings bank account does.
-They can enable transfers and remittances through a mobile phone.
-They can offer services such as automatic payments of bills, and purchases in cashless, chequeless transactions through a phone.
-They can issue debit cards and ATM cards usable on ATM networks of all banks.
-They can transfer money directly to bank accounts at nearly no cost being a part of the gateway that connects banks.
-They can provide forex cards to travellers, usable again as a debit or ATM card all over India.
-They can offer forex services at charges lower than banks.
-They can also offer card acceptance mechanisms to third parties such as the ‘Apple Pay.’
STATE AND CENTRAL GOVERMENT PSU AND CORPORATE COMPANY INFRASTRUCTURE BACK TO BACK PROJECT WORK , GOVT DEPARTME SUPPLY L
5yNamaskar
Bachelor's degree (non med ) at govt college ropar
5yWorking as access point at india post payments bank ...adding something... most of payments banks are loss making due to very narrow margin and not permitted to lend money as loans etc . Aditya birla group already given up their licence .. Only paytm payments bank has been in profit and has highest customer base ,followed by airtel then then india post and fino payments bank .
Helping in Career Branding & Positioning for top roles with strategic career storytelling. | Deep Understanding in Spotlighting the Untold Strengths of Strategic Influence | Strengths & USP Identification|
6yThanks for sharing this masterpiece.
Moulding carrier in AI and ML
6yThank you...It is very useful information...
Traditional Vedic Astrologer & Spiritual Advisor. ज्योतिषी
7yGood