Question
Which of the following information is/are TRUE with respect to the changes made by the Reserve Bank of India in relation to the Small Finance Banks ?
Which of the following information is/are TRUE with respect to the changes made by the Reserve Bank of India in relation to the Small Finance Banks ?
I. The Reserve Bank has raised the minimum capital requirement for small finance banks to Rs 200 crore and permitted Payments Bank to upgrade as SFBs.
II. Issuing the revised guidelines, the Reserve Bank notified that for Primary (Urban) Co-operative Banks (UCBs) desirous of voluntarily transiting into SFBs, the initial requirement of net worth would be at Rs 100 crore, which will have to be increased to Rs 200 crore within three years from the date of commencement of business.
III. Payments Banks can apply for conversion into SFB after five years of operations if they are otherwise eligible as per the guidelines.
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