Each group of banks will be offered 3 options: first, acquisition by an anchor bank; second, merger with other banks in the group; and third, a combination of merger between a number of banks and an anchor bank.
The promoters of Payments Banks can be individuals who have at least 10 years of experience / expertise in financial or banking field or by telecom companies, PPI issuers, private sector companies or societies, super-market chains with good track record. Existing PPIs can opt for conversion. The promoters will have to be resident Indians or owned and controlled by resident Indians.