RBI Issues Operating Guidelines For Payment Banks, Small Finance Banks RBI came out with operating guidelines for differentiated banks — payments banks and small finance banks — being set up to bring in new players who would leverage on technology for financial inclusion in a cost effective manner. RBI granted in-principle approvals to 11 entities … Read More →
Subramanian Swamy for CBI probe into grant of small finance bank licenses Alleging flouting of its own rules by RBI in grant of 10 small finance bank licences, BJP leader Subramanian Swamy on Wednesday asked Prime Minister Narendra Modi to order a CBI-led probe into the matter. Seeking action against RBI officials, including Governor Raghuram … Read More →
Guidelines for Licensing: 1. Registration, licensing and regulations The small finance bank shall be registered as a public limited company under the Companies Act, 2013. It will be licensed under Section 22 of the Banking Regulation Act, 1949 and governed by the provisions of the Banking Regulation Act, 1949; Reserve Bank of India Act, 1934; … Read More →