Q. Which is the first Small Finance Bank formed from a cooperative bank in India?
Answer:
Shivalik Small Finance Bank
Notes: Shivalik Mercantile Co-operative Bank Ltd. was granted an in-principle approval from the Reserve Bank of India, for transition into a small finance bank in 2020.
It is the first cooperative bank to be converted into a small finance bank, under the transition scheme. Shivalik Small Finance Bank Ltd. has commenced operations as a small finance bank with effect from April 26.