Question: Recently which UP-based has commenced operations as a Small Finance Bank (SFB) with effect from April 26, 2021?
(a) Shivalik Small Finance Bank
(b) Jana Small Finance Bank
(c) Utkarsh Small Finance Bank
(d) Ujjivan Small Finance Bank
Answer: (a)
Related facts:
- Shivalik Small Finance Bank Ltd. has commenced operations as a small finance bank with effect from April 26,2021.
- The Reserve Bank had issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949.
- Shivalik SFB area of operation is Uttar Pradesh, Delhi, and parts of Madhya Pradesh and Uttarakhand.
- Shivalik Mercantile Co-operative Bank (SMCB) is the first urban co-operative bank (UCB) in India to receive licence from RBI to operate as a Small Finance Bank (SFB).
By-Amar Mani Upadhyay