Correct answer: (b) 1 and 3 only
Explanation
- A
1 and 2 only
1 and 2 only. Resident-owned mobile and supermarket chains may promote payments banks, but those banks cannot issue credit cards. Statement 2 is false, so this pairing is not the key.
- B
1 and 3 only
1 and 3 only. RBI’s payments-bank guidelines allow promoters such as mobile firms and supermarket chains that are owned and controlled by residents. They may issue ATM/debit cards and accept restricted deposits, but they cannot lend or issue credit cards. That stored letter is the official key.
- C
2 only
Statement 2 only. Credit-card issue is barred for payments banks. 2 alone is the opposite of the design, so it is not the key.
- D
1, 2 and 3
1, 2 and 3. Because credit cards are not allowed, all three cannot stand. This letter is not the key.
Summary. Official key is (b) 1 and 3 only. Payments banks exist for inclusion: deposits, payments, remittances and debit access, not credit creation. Eligible resident corporate promoters include telecom and retail chains. The lending ban and the credit-card ban are the same logic. Honour the stored letter (b).
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