Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.
RBI issues final norms for payment banks, small finance banks
Within months of issuing licenses for two new full-fledged banks, RBI ON Thursday issued final norms for setting up of payment banks and small finance banks for the first time in the country. The move, aimed at deepening financial inclusion, will allow entities like mobile operators, super market chains and real estate cooperatives to set up payment banks, while existing NBFCs and micro finance lenders among others can apply for small finance banks.