Indian Economy Questions

Airtel Payments Bank is the first payment bank in India. A payments bank is a new category of banks conceptualized by the Reserve Bank of India, which operates at a smaller scale than an actual bank and doesn't involve any credit risk. It can carry out most banking operations but can't advance loans or issue credit cards.

The RBI as of date has given licences to 11 payments bank of which six are currently operational. These include

1. Aditya Birla Payments Bank,
2. Airtel Payments Bank,
3. India Post Payments Bank,
4. Fino Payments Bank,
5. Jio Payments Bank (and)
6. Paytm Payments Bank.

Microeconomics is the branch or subset of economics that deals with the study of Decisions of individual firms, households and consumers.

The law of demand implies that "The higher the price of a good, the lesser the quantity demanded".

For example:

If the rate of a mobile phone increased, the quantity demanded by the customers is decreased.

In economics, the cost of something is what you give up to get it.

Another name for false productivity is Spinning your wheels. They use the term for false productivity because your wheels are spinning as you're doing work but you're not going anywhere i.e, making any progress.