UPSC CSE Prelims 2016 Q4 — Indian Economy PYQ with Answer

The establishment of ‘Payment Banks’ is being allowed in India to promote financial inclusion.

Which of the following statements is/are correct in this context?

1. Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks.

2. Payment Banks can issue both credit cards and debit cards.

3. Payment Banks cannot undertake lending activities.

Select the correct answer

using the code given below.