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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. Issuing the revised guidelines, the Reserve Bank said 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 five years from the date of commencement of business. Payments Banks can apply for conversion into SFB after five years of operations if they are otherwise eligible as per the guidelines. As per the norms, SFBs are subject to most of the prudential norms that scheduled commercial banks have to adhere to. For instance, they need to maintain a cash reserve ratio (CRR), or portion of deposits to be set aside with the central bank, and statutory liquidity ratio (SLR), or the portion of deposits to be invested in government securities, as stipulated for commercial banks. About 75 per cent of the credit advanced by small finance banks will need to go to sectors that are considered part of the so-called priority sector, including agriculture, small enterprises and low-income earners. Commercial banks have to mandatorily lend 40 per cent of their net bank credit to such sectors.
Panchayati Raj was introduced in the country in?
The Directive Principles of State Policy (DPSP) in the Indian Constitution are contained in which part?
Which of the following amendments to the Indian Constitution are associated with establishing the 'Panchayati Raj' system in India?
Which of the following is NOT a Fundamental Duty as per the Indian Constitution?
Who presides over the Joint Session of Indian Parliament?
Which amendment to the Indian Constitution added the Ninth Schedule?
Which article of the Indian Constitution prohibits trafficking in human beings and forced labor?
Which Article of the Indian Constitution deals with the establishment of the Finance Commission?
Which Article of the Indian Constitution specifies Hindi in Devanagari script as the official language?
Which Article of the Indian Constitution directs the State to strive for a Uniform Civil Code?