IBPS RRBs Officer Scale I and II 13 Sep 2015 Paper

(1) Reliance Industries, in February 2015, teamed up with State Bank of India, the country’s largest public sector bank for a payments bank licence. SBI will hold up to 30 percent stake in the non-lending payments bank; RIL will be the promoter and hold the balance 70 per cent. RIL, on August 19, 2015 received an “in-principle” approval of the RBI to set up a payments bank.