RBI Grade B Officers 22 Nov 2015 Paper

(5) Seeking to promote financialinclusion, RBI, on 26 September2015 granted approvalto 10 entities to set up SmallFinance Banks. The “in-principle”approval will be valid for18 months to enable theseentities comply with the guidelineson Small Finance Banks.The Small Finance Banks canprovide basic banking serviceslike accepting deposits andlending to the unbanked sectionssuch as small farmers,micro business enterprises,MSMEs, etc.