Questions

The Prime Minister Narendra Modi has launched the ‘Saubhagya’ (Sahaj Bijli Har Ghar Yojana) scheme to provide subsidy on equipment like transformers, meters, and wires and is expected to cover allrural families after expected electrification of all villages by the end of 2018.Note:The total outlay for the Saubhagya scheme will be Rs 16,320 crore.

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.