Payments banks are banks that can accept demand deposits upto Rs 1 lakh per customer and pay interest similar to a savings bank account. Both current account and savings accounts can be operated by such banks. Payments bank cannot issue credit cards but can offer services like ATM cards, debit cards, net-banking and mobile-banking. They can offer forex services at charges lower than commercial banks. These banks can also accept utility bills. The payments bank can neither undertake lending activities nor form subsidiaries to undertake NBFC activities. The minimum capital requirement to form a payments bank is Rs 100 crore.