The correct answer is a, b, c and d. Explanation & Key Takeaways: Payments Bank:- • A committee headed by Dr Nachiket Mor recommended setting up of 'Payments Bank' to cater to the lower-income groups and small businesses. • Payments banks were introduced by the RBI to widen financial inclusion • Main features of Payment Banks:- • Acceptance of demand deposits was initially restricted to holding a maximum balance of Rs 100,000 per individual customer. Hence, statement a is correct. • While the payment banks can't issue credit cards, they can issue ATM and debit cards. Hence, statement b is correct. • They are not allowed to give loans. Hence, statement d is correct. • Distribution of non-risk sharing simple financial products like mutual fund units and insurance products, etc. • They are only allowed to invest the money received from customers' deposits into government securities. • They cannot accept NRI deposits.