Business »  Topic »  Banking Services Expansion: RBI puts out draft norms for ‘on tap’ licensing of SFBs

Banking Services Expansion: RBI puts out draft norms for ‘on tap’ licensing of SFBs


he promoter stake will have to be brought down to a maximum of 30% of the paid-up voting equity capital within 10 years, and to a maximum of 15% within 15 years from the date of commencement of business.

The NBFCs, MFIs and LABs in the private sector must be controlled by residents and have a successful track record for at least a period of five years. (Reuters)

Payments banks, non-banking finance companies (NBFCs), micro-finance institutions (MFIs), and local area banks (LABs) in the private sector can convert themselves into a small finance bank (SFB), the Reserve Bank of India ...


Read the full text financialexpress