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

Ujjivan Small Finance Bank receives final license from RBI

Ujjivan Small Finance Bank Ltd, a subsidiary of Ujjivan Financial Services Ltd has received the final licence from Reserve Bank of India (RBI) to commence its banking operations. With this, the Ujjivan Small Finance Bank became the fourth entity to receive the final licence from RBI after the Capital Small Finance Bank, Equitas Small Finance ..

Topics: Bank • Banking • Banking in India • Economy • Finance • Financial inclusion • Financial services • Fincare Small Finance Bank • Microfinance • Reserve Bank of India • Small finance bank • Ujjivan Small Finance Bank