Functions of Payment banks

 They can offer a range of services to its customers, which include providing remittances and
receiving payments

 They can issue debit cards and ATM cards usable on ATM networks of all banks

 Business Correspondents of another bank, subject to the Reserve Bank guidelines

 Apart from amounts maintained as Cash Reserve Ratio (CRR) with the Reserve Bank, it will be required
to invest minimum 75 per cent of its demand deposit balances in Statutory Liquidity Ratio(SLR)