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Small finance banks News

Reserve Bank of India

27 Apr 2024

RBI Sets Criteria For Small Finance Banks To Attain Universal Banking License

The bank intending to transit must have their shares listed on a recognized stock exchange.

23 Nov 2022

Now get up to 9 percent interest on FD with THIS bank; Check return calculator

The bank offers 8.5 percent for regular investors. The new rates are coming to effect from November 21. The bank now offers 9 percent on selected FDs.

savings account

25 Sep 2021

THESE 5 banks offer 7% interest rate on savings accounts

According to statistics provided by BankBazaar, small finance institutions are offering greater interest rates in the face of dropping interest rates. To attract new retail customers, small finance banks are giving greater interest rates on savings accounts.

Banks interest rate

13 Jul 2021

Bank Fixed Deposits: THESE banks offer up to 7% return

As per the data by BankBazaar, new and small banks are providing higher interest rates against the established players. The data revealed that small finance banks like AU Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank were providing interest rates up to 7%. Besides that the DCB bank offered up to 6.75% interest rate, followed by RBL Bank (6.25%) and Bandhan Bank (6%).

05 May 2021

SFB loans to MFIs for on-lending to be classified as priority sector lending

The decision has been taken to address the liquidity issues of MFIs amid the severe Covid crisis. This facility will be available up to March 31, 2022. Loans disbursed under the scheme will continue to be classified under the priority sector.

microfinance institutions

22 Feb 2018

Asset quality of microfinance institutions improves: CRISIL

Asset quality of MFIs in Tamil Nadu, Kerala, Odisha, West Bengal and Bihar remained largely resilient despite demonetisation and its aftermath.

06 Oct 2016

RBI issues operational guidelines for Payment, Small Finance Banks

The RBI released on Thursday its operating guidelines for Payment Banks and Small Finance Banks, noting the prudential regulatory framework for the entities under the two categories will largely be drawn from the Basel standards.

24 Jan 2016

New banks to complement existing banking system: Chanda Kochhar

Ruling out any competition to full-service banks from payments and small finance banks, top banker Chanda Kochhar has said they can actually complement the existing banking system and ICICI Bank will explore opportunities for mutually beneficial partnerships.

Subramanian Swamy

27 Oct 2015

Swamy demands ED probe into RBI licences for small banks

Senior BJP leader Subramanian Swamy on Tuesday asked Prime Minister Narendra Modi to order a probe by Enforcement Directorate into in-principle approvals given by RBI to 10 entities to set up small finance banks.

small finance banks

18 Sep 2015

Small bank licenses to shake up the microfinance biz: Ind-Ra

The microfinance business will now be dominated by small finance banks (SFBs) which will bring down systematic risk but at the cost of lower returns, said India Ratings and Research (Ind-Ra).

16 Sep 2015

Small Finance Bank licence holders start hunt for investors

With RBI granting in-principle approval to 10 entities to operate as Small Finance Banks, many of the successful bidders today said they will start the process of roping in investors.

small finance banks

16 Sep 2015

RBI grants in-principle approval to 10 applicants for small finance banks

The “in-principle” approval granted will be valid for 18 months to enable the applicants to comply with the requirements under the guidelines and fulfil other conditions as may be stipulated by the RBI.

21 Apr 2015

RBI appoints NSE's Narain to small bank panel

The Reserve Bank of India (RBI) Wednesday appointed NSE Vice-Chairman Ravi Narain member of its External Advisory Committee (EAC) for small finance banks.

financial inclusion

28 Nov 2014

Small-bank rules accommodative,to attract applicants: Analysts

Analysts have welcomed the RBI's final guidelines for setting up small finance banks (SFBs) and payments banks (PBs), saying it will generate good interest in the industry as the norms are accommodative.

financial inclusion

27 Nov 2014

Suitors line up for small finance and payment banks

With RBI issuing final licensing norms for small finance and payment banks, a host of potential suitors including Shriram Capital and Muthoot Finance on Thursday evinced initial interest in setting up such niche entities.

financial inclusion

28 Nov 2014

RBI issues final norms for payment, small finance banks

The move, aimed at deepening financial inclusion and boost saving habits, comes within seven months of RBI issuing two full-fledged banking licences in April this year.

financial inclusion

27 Nov 2014

Financial inclusion: RBI releases final guidelines for licencing of niche banks

Minimum paid-up equity capital for both Payments Banks and Small Finance Banks has been set at Rs 100 crore.

15 Oct 2014

RBI to issue guidelines for small finance banks soon

The Reserve Bank will soon invite applications for small finance banks that would provide basic products like credit but in a limited area.

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