In order to open a Payment Bank in India, you must first obtain a Payment Bank License. The Reserve Bank of India (RBI) issues payment bank licenses under Section 22 of the Banking Regulation Act, 1949. according to the Reserve Bank of India, The minimum paid-up capital required to open a payment bank and obtain a Payment Bank License is Rs. 100 crores. What are the Eligibilities to get a Payment Bank License Individuals/Professionals. Supermarket Chains. Companies. Mobile Telephone Companies. Public Sector Units. Real-Estate sector Co-operatives. Non-Banking Financial Company (NBFC). Corporate Business Correspondents. Surviving and prevailing non-bank pre-paid payment instrument issuers, certified under the Payment and Settlement Systems Act, 2007.