Payment Bank License in India

Enterslicegroup13 May, 2021Legal

If you want to open a Payment Bank in India then you must first obtain a Payment Bank License. The Reserve Bank of India (RBI) issues payment bank licenses under Section 22 of the Banking Regulation Act, 1949. according to the Reserve Bank of India, The minimum paid-up capital required to open a payment bank and obtain a Payment Bank License is Rs. 100 crores.