The correct answer is: A. Payment Banks
Payment banks are a type of bank that can accept deposits, issue debit cards, and offer basic remittance services. They are not allowed to offer loans or invest in securities.
NBFCs are non-banking financial companies. They are regulated by the Reserve Bank of India (RBI) and can offer a wide range of financial products and services, including loans, investments, and insurance.
AIFIs are alternative investment funds. They are regulated by the Securities and Exchange Board of India (SEBI) and can invest in a variety of assets, including stocks, bonds, and real estate.
Neo banks are digital-only banks that offer a range of financial services through mobile apps and websites. They are not regulated by the RBI or SEBI.
GIFT City is a special economic zone in Gujarat, India. It is designed to be a global financial hub and has been granted special permissions to allow a variety of financial institutions to operate there. Payment banks are one of the types of institutions that have been allowed to start functioning in GIFT City.