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Last updated: 27 Nov, 2014  

RBI.Thmb.jpg RBI issues guidelines for 'niche' banks, SMEs to benefit

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SME Times News Bureau | 28 Nov, 2014

The apex bank Thursday issued final guidelines for setting up of 'niche' or payment banks which will cater to needs of small savings accounts, remittance services, low income households, small businesses and other unorganised sector entities.

Under the guidelines, the Reserve Bank of India has invited individuals, non-banking finance companies (NBFCs), corporate business correspondents (BCs), mobile telephone companies, super-market chains, and real sector cooperatives to apply for licence to set up payments banks.

RBI said an existing joint venture (JV) with a scheduled commercial banks can set up a payments bank.

The guidelines said the objectives of setting up of small finance banks will be to further financial inclusion by providing savings facilities and supply of credit to small business units; small and marginal farmers; micro and small industries; and other unorganised sector entities, through high technology-low cost operations.

RBI added that the minimum paid-up equity capital for payments banks is Rs.100 crore.

"RBI will create a framework for licensing small banks and other differentiated banks. Differentiated banks serving niche interests, local area banks, payment banks etc. are contemplated to meet credit and remittance needs of small businesses, unorganized sector, low income households, farmers and migrant work force," the country's central bank said in a statement.

 
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new banks
rajeev jain | Thu Dec 4 04:51:58 2014
paid up capital 10 crore instead of 100 crores to give chance to honest persons those wants to serve the society without bad intention, and more over maximum person get the employment ,


Credit facility to micro and small industries
Jitendrta Kumar Mishra | Wed Dec 3 07:52:00 2014
I wish to thanks RBI for this step.This will save time and will make easy to get finance for MSME.NBFCs should also decide credit limit of a small unit unit on the basis of on spot valuation of assets, less paper work and disburse loans at an earliest to make them more efficeint, more productive and more profitable.


 
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