Question
Which of the following is the first Urban Cooperative
Bank to get licence as Small finance Bank?Solution
RBI conferred Shivalik Mercantile Co-operative Bank (SCMB) license to carry on business as a Small Finance Bank (SFB)’s under its voluntary transition scheme. The lender said the entity, renamed as Shivalik Small Finance Bank, which would commence business as an SFB by April 2021, was the first Urban Cooperative Bank (UCB) to transit under the scheme.
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