Payment Bank
A category of bank that provides savings and current accounts, accepts demand deposits, issues ATM and debit cards and offers payment and remittance services — but cannot accept recurring or fixed deposits, cannot issue…
This one is not written up yet
The definition above is the short version. A full explanation — how it works, a worked example and the exam traps — is still being written. In the meantime the chapter below covers it in context.
Written up from the same chapter
- Know Your CustomerThe identity and address check every investor must clear before a bank, broker or depository participant will open an account — mandatory under the Prevention of Money Laundering Act, 2002.
- Monetary policyThe central bank's management of money supply and interest rates to promote growth and hold prices stable — expansionary when it wants to push the economy up, contractionary when it wants to cool it.
Where this is taught
Free preparation for NISM Series SEBI-ICE← All terms