Questions

As per guidelines of the RBI, payments banks can accept demand deposits – savings and current – up to a maximum of ?1 lakh per customer. To overcome this restriction of holding a maximum balance of ?1 lakh per customer, payments banks have entered into tie-ups with mainline banks so that balances over ?1 lakh can be converted into fixed deposits with the latter. 

Panchayati Raj system is based on the principle of Decentralisation. Panchayati Raj is an important feature of Indian polity ensuring direct participation of common people (Article 243 G – 243 H) in decision making. this system was introduced by a constitutional amendment in 1992.