Payment Banks

Payment banks





were introduced by the RBI to widen financial inclusion to small savings account holders, low income households, unorganised sector, migrant workers and small businesses.

NBFCs, corporate business correspondents, mobile phone firms, supermarket chains, public sector entities and others can set up payment banks meeting the minimum capital requirement of rs 100 crore.

Payment banks restrict activities to acceptance of demand deposits, remittance services, Internet banking and other specified services but cannot undertake lending services.

A payment bank can accept only savings and current deposits of up to rs1 lakh per customer. They can issue ATMdebit cards but not credit cards.

They can distribute nonrisk sharing simple financial products like mutual funds and insurance products.

Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 10 Tax Saver Mutual Funds for 2017 - 2018

Best 10 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. ICICI Prudential Long Term Equity Fund

5. Birla Sun Life Tax Relief 96

6. Franklin India TaxShield 

7. Reliance Tax Saver (ELSS) Fund

8. BNP Paribas Long Term Equity Fund

9. Axis Tax Saver Fund

10. Birla Sun Life Tax Plan

Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms

For further information contact SaveTaxGetRich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

OR

Call us on 94 8300 8300