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Q:
A) Rs 1,00,000 | B) Rs 2,00,000 |
C) Rs 50,000 | D) Rs 5,00,000 |
Answer: A) Rs 1,00,000
Explanation:
Explanation:
As per guidelines of the RBI, payments banks can accept demand deposits – savings and current – up to a maximum of ?1 lakh per customer. To overcome this restriction of holding a maximum balance of ?1 lakh per customer, payments banks have entered into tie-ups with mainline banks so that balances over ?1 lakh can be converted into fixed deposits with the latter.