Local Area Banks Current Affairs, GK & News

Local Area Banks

Local Area Banks were set up as per a Government of India Scheme announced in August 1996. The intention of the government was to set up new private local banks with jurisdiction over two or three contiguous districts. The objective of establishing the local area banks was to enable to mobilization of the rural savings by ..

On Tap Licence for Small Finance Banks

The Reserve Bank of India (RBI) is considering to issue “on tap” licensing for small finance banks. The on-tap licensing will allow entities to approach the RBI for obtaining licences for small finance banks on meeting laid-down criteria. RBI wants to cash in the potential of small finance banks in promoting banking facilities for small ..