Small finance bank Current Affairs, GK & News
RBI sets up Panel to Evaluate Bank Applications
The Reserve Bank of India (RBI) has set up a “standing external advisory committee (SEAC)” on March 23, 2021. This panel will evaluate the applications for the universal banks and small finance banks (SFBs). Standing External Advisory Committee This committee comprises of five members. The chairperson of the committee will be the former RBI deputy ..
Month: Current Affairs - March, 2021
Category: Economy & Banking Current Affairs - 2022
Topics: on-tap licensing of the Small Financial Banks • Reserve Bank of India (RBI) • Small finance bank • Standing External Advisory Committee • Universal bank
India Post Payments Bank to be converted into Small Finance Bank
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
ESAF Small Finance Bank (SFB) getsRBI nod to operate as a scheduled bank
As per 2nd schedule of the RBI Act of 1934, the ESAF Small Finance Bank (SFB) Ltd has got approval from Reserve Bank of India (RBI) to operate as a scheduled bank. This makes ESAF the fifth scheduled bank from Kerala after Federal Bank, South Indian Bank, Catholic Syrian Bank, and Dhanlaxmi Bank. Being a ..
Category: Government Schemes Current Affairs
Topics: Aadhaar • Banking in India • Catholic Syrian Bank • Economy of India • ESAF Small Finance Bank • India • Private-sector banks in India • Reserve Bank of India • Scheduled Banks • Small finance bank • South Indian Bank • Thrissur
Union Government allows Atal Pension Yojana for Small Finance Banks and Payments Banks
The Union Government has allowed Small Finance Banks and Payments Banks to offer Atal Pension Yojana (APY). Recently, 10 Small Finance Banks and 11 Payment Banks have got license from Reserve Bank of India to start banking operations in the country. The Banks include Ujjivan Small Finance Bank, Janalakshmi Small Finance Bank, Suryoday Small Finance ..
Category: Government Schemes Current Affairs
Topics: Apy • Atal Pension Yojana • Banking in India • Economy • Economy of India • Finance • In India • Payments bank • Paytm • Pensions in India • Small finance bank • Ujjivan Small Finance Bank
The Ujjivan Small Finance Bank (SFB) Ltd received ‘Scheduled Bank’ status by RBI
The Ujjivan Small Finance Bank (SFB) Ltd, a wholly-owned subsidiary of Ujjivan Financial Services Ltd., has been included in the Second Schedule to the Reserve Bank of India (RBI) Act, 1934. With this, Ujjivan SFB has attained the status of a Scheduled Bank. This status will enhance the market acceptability of the bank in its ..
Topics: Companies • Companies based in Bangalore • Economy of India • Finance in India • Reserve Bank of India • Small finance bank • Ujjivan Small Finance Bank
Small Finance Banks
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 ..
Topics: 32758 • Microfinance • MSME • NBFC • Non-bank financial institution • Payments bank • Priority Sector • Priority sector lending • Reserve Bank of India • Small finance bank