Overview of Payments Bank Licensing in India
February 12, 2024 ⚊ 1 Min read ⚊ Views 52 ⚊ BUSINESS
A Payments Bank is a relatively new form of bank compared to a Traditional Bank. It has the functions of any other bank, but it operates on a smaller scale, i.e., it doesn’t provide loans and cannot issue credit cards. Payments Banks are generally used for online transactions. Since the demonetization in November 2016, many people have started making transactions through payment banks for cashless transactions, especially in urban areas. Airtel Payments Bank, the very first Payments Bank in India, came within a few months after demonetization.
Tags: PaymentsBank, PaymentsBankLicens, Registrationwala
