How do pure payment banks function?

  1. WHAT IS THE DIFFERENCE BETWEEN A PAYMENT BANK & A REGULAR BANK ?

  2. IS THE CLASSIFICATION PURELY BASED ON THE KIND OF FUNCTIONING OF THE BANK OR NEEDS SOME SPECIAL PERMITS , RBI LICENSE ETC ?

  3. HOW DO THESE PAYMENT BANKS MAKE MONEY ?

thank you

have a look at thing link

1 Like