Which companies have dropped plans to step up a payments bank in the country?
A. Telenor
B. IDFC
C. Sun Pharmaceuticals
D. All of above
Answer:D
Which companies have dropped plans to step up a payments bank in the country?
A. Telenor B. IDFC C. Sun Pharmaceuticals D. All of above
Explanation: Dilip Shanghvi, the founder and managing director of Sun Pharmaceuticals, IDFC Bank and Telenor have made plans to pull out of the payments banks race after getting permission from RBI for the same. Shanghai along with Telenor Financial Services and IDFC Bank were granted in-principle approval to form a payments bank, by the RBI. A payments bank is a differentiated bank that confines activities to acceptance of demand deposits, remittance services and other specified services.