Question: How many finance banks and payment banks have recently been granted license by the Reserve Bank to start banking business in the country?
(a) Five and Seven
(b) Eight and Ten
(c) Ten and Eleven
(d) Ten and Thirteen
Answer: (c)
Related Facts:
- In January 2018, the Central Government has allowed small finance and payment banks to start an Atal Pension Scheme.
- According to the finance ministry, the Reserve Bank has granted license to ten financial banks and eleven payment banks to start banking business in the country.
- These financial institutes include Ujjivan Finance Bank, Janalakshmi Small Finance Bank, Suryodaya Small Finance Bank, India Post Payment Bank and Paytm Payment Bank etc.
- It is known that government had implemented the Atal Pension Scheme in the year 2015.
- People aged 18 to 40 years can avail the benefits of this pension scheme.
- Under this scheme, after the age of 60 years, the minimum assured pension will be between Rs 1000 and Rs 5000 in accordance with the contribution.
Reference:
http://www.thehindu.com/business/Economy/payments-banks-to-offer-atal-pension-yojana/article22533973.ece
https://www.hindustantimes.com/business-news/payments-banks-small-finance-banks-to-offer-atal-pension-yojana/story-szZYM3abQNKB2maU8KUnEO.html
https://economictimes.indiatimes.com/wealth/save/small-finance-banks-and-payment-banks-to-offer-atal-pension-yojana/articleshow/62662577.cms
http://www.businesstoday.in/sectors/banks/atal-pension-yojana-extended-to-small-finance-banks-for-better-outreach/story/268951.html