Acceptance Quote by Chanda Kochhar
“The scope of activities for payments banks mainly includes acceptance of demand deposits, issuance of ATM/debit cards, payment and remittance services, and distribution of third-party products.”
About This Quote
Source Report: RBI Guidelines on Payments Banks, 2016
Payments banks are limited to basic deposit taking, card issuance, payment processing, remittance, and distributing other firms' products.
In simple terms: Payments banks can only offer core banking services and partner products.
Key Takeaway
Focus on core services and partnerships.
Themes
banking
payments
regulation
services
partnerships
Mood
analytical
neutral
informative
Type
statement
explanatory
When to use this quote
- setting up a new payments bank
- expanding remittance services
- partnering with fintechs
- offering ATM cards
Key Concepts
Financial inclusion
risk management
product distribution
Questions to Reflect On
- How can payments banks diversify income within regulations?
- What partnerships best complement their services?
A Different Perspective
Limited scope may restrict revenue growth and competitiveness.
