drishti ias current affairs magazine pdf

drishti ias current affairs magazine pdf

drishti ias current affairs magazine pdf published this article page no   89 payments bankrecently paytm payments bank was accorded scheduled bank status by the reserve bank of india. benefits of getting scheduled bank statusscheduled banks refer to those banks which have been included in the second schedule of reserve bank of india act 1934. o other payments banks that have been added are fino payments bank and india post payments bank.with the scheduled bank status paytm payments bank can explore new business opportunities take part in request for proposals issued by the government and other large corporations primary auctions fixedrate and variable rate repos and reverse repos.it can also participate in marginal standing facility and will be eligible to partner in governmentrun financial inclusion schemes.  it is now eligible for refinancing facility from the rbi at the bank rate acquire membership to clearing house and get access to currency storage facility. about payments bankthey were created on recommendations of rbis committee on comprehensive financial services for small businesses and low income households headed by nachiket mor in 2013.it is registered under companies act 2013 and licensed under banking regulation act 1949. o a promoter  promoter group can also have joint venture with an existing scheduled commercial bank.it has to maintain cash reserve ratio (crr) with rbi and invest in eligible government securities treasury bills under statutory liquid ratio (slr).it can access interbank uncollateralised call money market and collateralized repo and cblo market for temporary liquidity management drishti ias current affairs magazine pdf buy.

drishti ias current affairs magazine pdf