Payment Banks services

Dear Nithin,
Can Payment Bank services be initiated or created though Zerodha Fintech startup Rainmatter? If that possible can we in future buy IPOs ,G-bonds directly within Zerodha’s service provider Kite? Am I asking a very dumb question? May be but the question just came in my mind, so never mind.

SEBI hasn’t yet given any clarity on if payment bank accounts can be mapped to trading and demat account. Also there is no clarity on if payment banks can be used as ASBA for applying to IPOs.
Not a dumb question. :slight_smile: We don’t intend to apply for a payment bank license. :slight_smile: Btw, we are trying to partner with a bank to provide a seamless experience.

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Thats great news Nithin sir, yes I knew there are some limitation of payment banks but may be in future they can have all the facilities as a full fledged commercial bank, may be. Anyway we are all waiting for a seamless experience as you know 3-in-1 accounts are currently too costly.