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.

Rather than worrying about entities, we should worry about the trends in technology that may cause disruptions... if we get so paranoid that banking is no longer going to exist and banks are going to get disrupted, I think that is a different worry.

Payments banks can also act as business correspondents of other banks.

Chanda Kochhar Quotes