RBI issues operating guidelines for differentiated Banks
RBI today came out with operating guidelines for differentiated banks -- payments banks and small finance banks -- being set up to bring in new players who would leverage on technology for financial inclusion in a cost effective manner.RBI granted in-principle approvals to 11 entities for setting up payments banks (PBs) in August 2015 and 10 for Small Finance Bank (SFB) in September 2015. As per the guidelines, PBs can accept deposit only up to Rs 1 lakh.
Small Finance Banks will have to follow norms relating to minimum balance, inoperative accounts, nominations, and cheques/drafts. PBs will have to maintain a minimum investment to the extent of not less than 75 per cent of 'demand deposit balances' as on three working days prior to that day, in Government securities/Treasury Bills with maturity up to one year that are recognized by RBI as eligible securities for maintenance of Statutory Liquidity Ratio (SLR).
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RBI today came out with operating guidelines for differentiated banks -- payments banks and small finance banks -- being set up to bring in new players who would leverage on technology for financial inclusion in a cost effective manner.RBI granted in-principle approvals to 11 entities for setting up payments banks (PBs) in August 2015 and 10 for Small Finance Bank (SFB) in September 2015. As per the guidelines, PBs can accept deposit only up to Rs 1 lakh. 
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