The Reserve Bank of India indicates that the primary objective for these guidelines is to achieve financial inclusion by providing small savings accounts and payment services to the underserved in the population. The guidelines define the migrant labor workforce, low income households, small businesses, other unorganized sector entities and other users.
The guidelines also define the capacity of payments banks and how they are differentiated from other banks. For example, payments banks have higher operational risk whereas other banks face higher credit and market risks. Hence, capital requirements for payment banks have a different purpose.
The guidelines are to be read in conjunction with the Banking Regulation act of 1949, especially Sections 5 (b) and 6 (1) (a) to (o), which are licensing provisions for the banking industry as a whole.