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The small finance bank shall be registered as a public limited company under the Companies Act, 2013. It will be licensed under Section 22 of the Banking Regulation Act, 1949 and governed by the provisions of the Banking Regulation Act, 1949; Reserve Bank of India Act, 1934; Foreign Exchange Management Act, 1999; Payment and Settlement Systems Act, 2007; Credit Information Companies ...
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
Deutsche Bank AG (Deutsche Bank Pakistan) Citi Bank N.A (CitiBank N.A Pakistan) Industrial and Commercial Bank of China Limited (ICBC Pakistan) Bank of China [3] (Bank of China Pakistan Branch) The Hong Kong and Shanghai Bank (HSBC Bank Pakistan) The Bank of Tokyo-Mitsubishi UFJ (MUFG Bank Pakistan)
Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India. It is under the jurisdiction of Ministry of Finance , Government of India headquartered at Lucknow and having its offices all over the country.
The Reserve Bank of India (abbreviated as RBI) is India's central bank and regulatory body responsible for regulation of the Indian banking system. Owned by the Ministry of Finance of the Government of the Republic of India, it is responsible for the control, issue and maintaining supply of the Indian rupee.
The small finance bank status provided the opportunity to expand Ujjivan's range of loan products, and also to accept deposits rather than relying on other financial institutions to provide funds for the loans. [10] Ujjivan received the final license from the Reserve Bank of India on 11 November 2016 to set up a small finance bank. [11]
AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank [2] and India’s largest [3] tech-led [4] small finance bank, based in Jaipur. It was founded as vehicle finance company and NBFC , AU Financiers (India) Ltd in 1996 and converted into a full-fledged small finance bank on 19 April 2017.
The Reserve Bank of India issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949. [3] Prior to becoming a bank, the company was India's largest microfinance institution, Janalakshmi Financial Services, [4] founded July 24, 2006.