Small Finance Banks: SFBs are set up primarily to perform basic banking activities of acceptance of deposits and providing loans to unserved and underserved sections such as-
small business units,
small and marginal farmers,
micro and and small scale industries and
units of the unorganized sector.
Small finance bank RBI Guidelines
Shivalik Mercantile Co-operative Bank Limited has been accorded the status of Small Finance Bank (Small Finance Bank-SFB) by Reserve Bank of India (RBI).
They are registered as a public limited company under the Companies Act, 2013.
The Reserve Bank of India (RBI) on September 27, 2018 launched a scheme to grant small financial bank status to Urban Co-operative Banks (UCBs) on a voluntary basis.
This change of Shivalik Mercantile Sahakari Bank into SFB will be valid for 18 months, during which time this bank will have to comply with all the norms of SFB.
On being satisfied that the applicant has complied with the requisite conditions prescribed for approval, RBI will consider granting it a license to commence banking business as an SFB.
Small Finance Bank, leading SFB in India, offers banking services like home loan, business, personal & vehicle loans, Online Savings accounts.
SMALL FINANCE BANK( SFB) list found
1. AU SMALL FINANCE BANK
HQ- Jaipur, Rajasthan
Md& Ceo-- Sanjay Agarwal
Tg -- Chalo Aage Badhe..
2. CAPITAL SMALL FINANCE BANK
Fo-- Apr 24,2016
Hq- Jalandhar, Punjab
Md & Ceo- Sarvjit Sharma
Tg-- Vishwas se Vikas tak.
3. EQUITAS SMALL FINACE BANK
Hq-- Chennai, TN
Md & Ceo -- Mr. Vasudevan
Tg-- It s fun Banking
4. SURYODYA SMALL FINANCE BANK
Hq-- Navi Mumbai
Md & Ceo-- Baskar Babu
Tg-- A bank of smile
5. UJJIVAN SMALL FINACE BANK
Fo-- 1 feb, 2017
Hq-- Bengaluru, Karnatka
Md & Ceo--Carol Furtado
Tg-- Build a better life/ We belive in yiur belief
6. UTTARKASH SMALL FINANCE BANK
Fo-- 30 Apr 2016
Hq- Varanasi, UP
Md & Ceo- Govind Singh
Tg- Aapki umeed ka khata
7. ESAF SMALL FINANCE
Fo- 10 mar 2017
Hq- Thrissur, Kerala
Md & Ceo-- K Paul Thomas
Tg-- Joy of Banking
8. FINCARE SMALL FINANCE BANK
Md & Ceo- Rajeev Yadav
Tg-- Banking on more/ A new era in smart Banking
9. JANA SMALL FINANCE BANK
Md & Ceo- Ajay Kanwal
Tg-- Value of Money
10. NORTH EAST SMALL FINANCE BANK
Hq-- Guwahati, Assam
Md & Ceo- Rupali Kalita
Tg- Your door step banker
11. SHIVALIK SMALL FINANCE BANK
Md & Ceo- Suveer kumar Gupta
Tg-- A bank for your welfare
What is meant by small finance bank?
Small Finance Banks is a specific segment of banking created by RBI under the guidance of Government of India . The main purpose behind having small finance banks is to expand access to financial services in rural and semi-urban areas. These banks can do almost everything that a normal commercial bank can do but at a much smaller scale.
How many SFB bank in India?
Currently, a total 11 small finance banks are operating in India (July 2021).
Au Small Finance Bank Ltd.
Capital Small Finance Bank Ltd
Fincare Small Finance Bank Ltd.
Equitas Small Finance Bank Ltd
ESAF Small Finance Bank Ltd.
Suryoday Small Finance Bank Ltd.
Ujjivan Small Finance Bank Ltd.
Utkarsh Small Finance Bank Ltd.
North East Small finance Bank Ltd
Jana Small Finance Bank Ltd
Shivalik Small Finance Bank Ltd
What is difference between small finance bank and bank?
The main difference between Commercial Bank and Small Finance Bank is there is no limit for the capital acquired by a Commercial Bank whereas Small Finance Bank should pay up a minimum capital of hundred crores.
Small Finance Banks have target customers like small scale farmers, small businesses, unorganized workers as well as MSME.
What is the objective of setting up Small Finance Banks (SFBs) in India?
1. To supply credit to small business units
2. To supply credit to small and marginal farmers
3. To encourage young entrepreneurs to set up business especially in rural areas.
Ans 1 and 2
To supply credit to small business units and To supply credit to small and marginal farmers
Small Finance Banks FD Interest rates 2022
Ujjivan Small Finance Bank FD Interest rates are effective as of 01 January 2022.
1 year 6.50% 7.25%
AU Small Finance Bank FD Interest rates are effective as of 01 January 2022.
12 months 1 day to 15 months 5.85% 5.98%
Equitas Small Finance Bank FD Interest rates are effective as of 01 January 2022.
1 year to 18 months 5.85% 5.08%
Jana Small Finance Bank FD Interest rates are effective as of 01 January 2022.
1 year 1 day to 3 years 6.50% 7.00%
Capital Small Finance Bank FD Interest rates are effective as of 01 January 2022.
1 year to up to 5 years 6.00% 6.50%
Small Finance Bank share price News & Analysis small finance bank stock review
Shares of Au Small Finance Bank Ltd. fell 0.74 per cent to Rs 1247.95 Updated: Jan 24, 2022. prediction of small finance banks is performed best in future. Due to pandemic number of small businesses effected and now a day number of business perform best