New Path for Small Banks: RBI Opens Door to Universal Banking

  •  The Reserve Bank of India (RBI) has established a path for ambitious small finance banks (SFBs) seeking to become universal banks.
  • SFBs meeting specific criteria can now apply for conversion, offering a wider range of financial services.
  • To qualify, SFBs must have a five-year track record, a minimum net worth of ₹1,000 crore, and a strong financial performance.
  • Listed SFBs with a healthy record on profitability and asset quality are eligible to apply.
  • This move could lead to a more robust banking landscape in India, with stronger financial institutions.

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