Page 9 - Digi Page - General Awareness - Dec, 2015
P. 9
www.bankersguru.org
(General Awareness)
Small and Payment Banks
‘’Special purpose’’ banks catering to the banking and financial needs of the
country and specifically to the Common Man.
Usha Thorat (Small Banks)
Nachiket Mor (Payment Banks)
Minimum capital requirement to apply for license: 100 crores. (For commercial bank
license, it was Rs.500 crores).
72 applications for Small Finance Banks and 41 applications for Payments Banks were
received.
10 small banks and 11 payment banks have been given ‘’In-Principle’’ License
(BG suggests aspirants should know about the selected entities)
SMALL BANKS PAYMENT BANKS
Can accept all types of deposits like a commercial Can only accept demand deposits
bank (CASA, FDRD etc.)
No credit cards, But can issue debit cards
''small’’ loan from depositor's money and shall be
opened under ''Companies Act,2013'' Can’t give Loans, shall invest in G-sec
Priority customers - MSME businessmen, Priority customers - poor, migrants,
unorganized workers wanting to send
unorganized workers, small and marginal
farmers. remittances home.
Special feature - 50% of the loans be given to Maximum balance per customer: Rs.1 lakh
MFSME sector The Payments Banks would be required to
For the first three years, 25 per cent of branches use the word ‘Payments’ in its name with
should be in unbanked rural areas bank
Date of Release - 21-Dec-15 SUBJECT: GA www.bankersguru.org
(General Awareness)
Small and Payment Banks
‘’Special purpose’’ banks catering to the banking and financial needs of the
country and specifically to the Common Man.
Usha Thorat (Small Banks)
Nachiket Mor (Payment Banks)
Minimum capital requirement to apply for license: 100 crores. (For commercial bank
license, it was Rs.500 crores).
72 applications for Small Finance Banks and 41 applications for Payments Banks were
received.
10 small banks and 11 payment banks have been given ‘’In-Principle’’ License
(BG suggests aspirants should know about the selected entities)
SMALL BANKS PAYMENT BANKS
Can accept all types of deposits like a commercial Can only accept demand deposits
bank (CASA, FDRD etc.)
No credit cards, But can issue debit cards
''small’’ loan from depositor's money and shall be
opened under ''Companies Act,2013'' Can’t give Loans, shall invest in G-sec
Priority customers - MSME businessmen, Priority customers - poor, migrants,
unorganized workers wanting to send
unorganized workers, small and marginal
farmers. remittances home.
Special feature - 50% of the loans be given to Maximum balance per customer: Rs.1 lakh
MFSME sector The Payments Banks would be required to
For the first three years, 25 per cent of branches use the word ‘Payments’ in its name with
should be in unbanked rural areas bank
Date of Release - 21-Dec-15 SUBJECT: GA www.bankersguru.org
