Latest News | Shivalik Small Finance Bank Starts Operations
Get latest articles and stories on Latest News at LatestLY. Shivalik Small Finance Bank has commenced operations as a small finance bank, effective Monday, the Reserve Bank of India said.
Mumbai, Apr 26 (PTI) Shivalik Small Finance Bank has commenced operations as a small finance bank, effective Monday, the Reserve Bank of India said.
“The Reserve Bank has issued a licence to the bank...to carry on the business of small finance bank in India,” the RBI said in a release.
In January last year, the central bank had given an in-principle approval to the Uttar Pradesh-based urban co-operative bank for transition into a small finance bank.
The RBI had issued the 'Scheme on voluntary transition of Urban Co-operative Bank into a Small Finance Bank' in September, 2018.
There are 10 another small finance banks in the country.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)