We are the first payments bank to go live with 410 branches and over 25,000 banking points on day one!
How is a Payments Bank different than other Banks?
> Payments Bank cannot lend money to their customers
> Payments Bank cannot open Fixed deposits or recurring deposits
> Payments Bank cannot allow a balance of more than Rs.1 lakh in any account, overnight
Effective 01 July 2017, following the directive of Govt of India, the GST rate of 18% will be applicable instead of the earlier service tax.