Payment Bank License is important to obtain in order to open a payment bank in India.The Reserve Bank of India (RBI) has introduced a new payment bank model that allows transactions in the same way as a regular bank but does not lend or issue credit cards. Payment banks make banking easier because of their diversity and convenience.
Eligibilities to get a Payment Bank License
Mobile Telephone Companies.
Public Sector Units.
Real-Estate sector Co-operatives.
Non-Banking Financial Company (NBFC).
Corporate Business Correspondents.
Surviving and prevailing non-bank pre-paid payment instrument issuers, certified under the Payment and Settlement Systems Act, 2007.