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     EduGorilla 
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    Direction: Read the given passage and answer the questions that follow.
    After nearly 10 years of no new banking licenses, licenses were granted in 2015 to two existing financial institutions to become universal commercial banks: IDFC Ltd (an integrated infrastructure finance company) and Bandhan Financial Services (a large micro finance organization).16 Two new major types of small and differentiated banks – payments banks and small finance banks – have also emerged as the newest entrants in the Indian financial sector.

    Which of the following is/are not a function/s of a payments bank?

    Options :-

    1. Advancing loans
    2. Acceptance of demand deposits
    3. Offering remittance services
    4. Net banking
    5. Third party fund transfer
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Reply To: Direction: Read the given passage and answer the questions that follow. After nearly 10 years of no….
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