Still, we concluded that such an assurance as deposit insurance is needed for the depositors of payments banks, as the concept is new and depositors will need additional confidence. 24.
As the payments bank may operate in remote areas mostly through BCs, ATMs and other networks, the payments bank will be required to have at least 25 per cent of physical access points including BCs in rural centres. Further, we require that a controlling office for a cluster of access points should also be established for control over various outlets and customer grievance redressal.