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New entities set up by promoters of a refused or revoked PSO:
ANeed no capital at all
BMay also face the cooling period
CAre automatically exempt
DReceive fast-track approval
Answer & Solution
Correct answer: B. May also face the cooling period
1. The cooling period follows the promoters, not just the company.
2. A fresh entity with the same promoters is covered.
3. So it may also face the cooling period.
_Source: RBI Master Directions on Authorisation to operate a Payment System._
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