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 →
What are Small Finance Banks? Small finance banks will be permitted to take deposits from customers. Furthermore, as against payments banks, small finance banks will likewise be permitted to loan cash to individuals. Large number of the entities that have received the ‘in-principle’ nod include micro-finance organizations. Which implies, most customers of small finance banks … Read More →
The following table gives a crisp overview of small finance banks and Payment banks. Difference Small Bank Payments Bank Eligibility Professionals with 10 years in financial services or promoter group with 5 year track record Card Issuers, Finance Companies, Business Correspondents, Telecom Companies, Retailers etc. Capital Requirement Rs. 100 Crore Equity Capital Rs. 100 Crore … Read More →