32758 Current Affairs, GK & News
Indian Posts has made a decision to convert India Post Payments Bank into Small Finance Bank. This will enable the Bank to offer small loans to customers. Payment Banks Payments banks were introduced by the Reserve Bank of India (RBI) to meet the government’s financial inclusion target. A payment Bank will be set up as ..
Topics: 32758 • Bank • Banking • Economy • Finance • Financial inclusion • Financial services • India Post Payments Bank • Indian Posts • Microfinance • Online banking • Payments bank • Priority sector lending • Priority sector lending • RBI • Reserve Bank of India • Reserve Bank of India • Small finance bank
India is one among the top 10 economies in the world. Banking sector in India is robust and forms the most dominant segment of the financial sector. The banking industry acts as a pivot in the economic development of the country. The face of the banking industry has been witnessing changes over the years. The ..
Topics: 32758 • Financial inclusion • India • Microfinance • Priority sector lending • Priority sector lending • Priority Sector Lending Certificates • Priority Sector Lending Certificates • Private Sector Banks in India • Private-sector banks in India • Public Sector Banks in India • Reserve Bank of India • Reserve Bank of India
On 27 November 2014, RBI had released the guidelines on Small Finance Banks along with the Payment Banks. The objective of small finance banks is to further financial inclusion by providing: Basic banking facilities to the unbanked and thereby boosting saving habits. Supply of credit to small business units, small and marginal farmers, micro and ..
About 40%-50% of India’s 1.25 billion population is eligible to open a bank account, but is still unbanked . In the Union Budget 2014-2015, the finance minister Arun Jaitley announced that RBI will create a framework for licensing small banks and other differentiated banks. The objective of differentiated banks was to serve the niche interests ..