November 22, 2024 21:37 (IST)
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Small Finance Banks can now apply to become universal banks under the on-tap licesning norms: RBI

Small Finance Banks can now apply to become universal banks under the on-tap licesning norms: RBI

Mumbai: The Reserve Bank of India (RBI) on Friday said that small finance banks (SFBs) meeting certain criteria can now seek approval from the regulator to transition into universal banks under the on-tap licesning norms.

RBI allows banks to continue giving credit to NBFCs for on-lending to priority sector

RBI allows banks to continue giving credit to NBFCs for on-lending to priority sector

Reserve Bank has asked banks as well as small finance banks (SFBs) to continue lending to the NBFCs for the purpose of on-lending to certain priority sectors.