Mumbai: A week after Budget statement, the Reserve Bank on
Thursday issued draft strategy for setting up of 'local feel' small banks,
which will pay out small-ticket loans to farmers and businesses.
The central bank also issued draft strategy for setting up of sum banks, which will cater to marginalized sections of society, counting migrant laborers, for collecting deposits and remitting funds.
Such banks can be set up with a least amount capital of Rs 100 crore as against Rs 500 crore necessary for normal profitable banks, according to the guidelines.
"Both payments banks and small banks are ‘niche’ and 'differentiated' banks, with the ordinary objective of furthering financial addition," the RBI said while issuing draft guidelines for licensing of expenses banks and small banks.
The future small banks will supply a whole suite of basic banking crop such as deposits and supply of credit, but in a incomplete area of process, it said.
The central bank also issued draft strategy for setting up of sum banks, which will cater to marginalized sections of society, counting migrant laborers, for collecting deposits and remitting funds.
Such banks can be set up with a least amount capital of Rs 100 crore as against Rs 500 crore necessary for normal profitable banks, according to the guidelines.
"Both payments banks and small banks are ‘niche’ and 'differentiated' banks, with the ordinary objective of furthering financial addition," the RBI said while issuing draft guidelines for licensing of expenses banks and small banks.
The future small banks will supply a whole suite of basic banking crop such as deposits and supply of credit, but in a incomplete area of process, it said.