RBI grants ‘in-principle’ approval to 10 applicants for Small Fina

1.	RBI grants ‘in-principle’ approval to 10 applicants for Small Finance Banks. Consider the following statements regarding Small Finance Banks: 1) Small Finance Banks aim to address financial inclusion. 2) The minimum paid-up capital requirement for these banks would be Rs 100 crore only. 3) At least 50% of the loans should constitute loans and advances of up to Rs 25 lakhs. Which of the above statements are correct?
Answer» RBI grants ‘in-principle’ approval to 10 applicants for Small Finance Banks. Consider the following statements regarding Small Finance Banks: 1) Small Finance Banks aim to address financial inclusion. 2) The minimum paid-up capital requirement for these banks would be Rs 100 crore only. 3) At least 50% of the loans should constitute loans and advances of up to Rs 25 lakhs. Which of the above statements are correct?

RBI grants ‘in-principle’ approval to 10 applicants for Small Finance Banks. Consider the following statements regarding Small Finance Banks: 1) Small Finance Banks aim to address financial inclusion. 2) The minimum paid-up capital requirement for these banks would be Rs 100 crore only. 3) At least 50% of the loans should constitute loans and advances of up to Rs 25 lakhs. Which of the above statements are correct?

Answer»

RBI grants ‘in-principle’ approval to 10 applicants for Small Finance Banks. Consider the following statements regarding Small Finance Banks:

1) Small Finance Banks aim to address financial inclusion.

2) The minimum paid-up capital requirement for these banks would be Rs 100 crore only.

3) At least 50% of the loans should constitute loans and advances of up to Rs 25 lakhs.

Which of the above statements are correct?