Dec 21, 2015
Payment Bank: Do's and Don't
How many of you are aware of the term “Payment Bank”? Do you know what is the objective of payment bank?
Payments bank allows companies to collect deposits, offer Internet banking, facilitate money transfers and sell insurance and mutual funds.
What is the objective of the payment bank?
The objectives of payments banks is to provide inclusion for small savings accounts and payments services to migrant labour workforce, low income households, small businesses, other unorganised entities and other users. Bangingdb share the do’s and don’t of payment banks in the infographic below.
