Question
Small Finance banks need to maintain what percentage of
Capital adequacy ratio in order to meet one of the conditions to be eligible to get into Authorized Dealers-Category I for foreign exchange transactions as per the recent RBI CircularSolution
Eligibility norms for Small Finance Banks for Authorised Dealer Category-I
- The bank should have completed at least two years of operations as Authorised Dealer Category-II.
- The bank should have been included in the Second Schedule to RBI Act 1934.
- It should have a minimum net worth of ₹500 crore.
- Its CRAR should not be less than 15%.
- The net NPAs of the bank should not exceed 6%, during previous four quarters.
- It should have made profit in the preceding two years.
- It should not have defaulted in maintenance of CRR/ SLR during previous two years.
- It should have sound internal control systems.
- It should not have any major regulatory and supervisory concerns
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