What is minimum capital adequacy requirement for small Finance Bank License?
Minimum Capital Requirement - 15 %
Common Equity tier 1 - 6 %
Additional tier 1 - 1.5%
+Minimum Tier I Capital -7.5%
Capital Conservation Buffer -NA
Pre-Specified trigger for conversion of AT1 -CET1 at 6% upto March, 31, 2019 and +7% thereafter
What is the procedure for application for Small Finance Bank ?
In terms of Banking Regulation Rules, 1949, applications shall be submitted in the prescribed form (Form III) to the Chief General Manager, Department of Banking regulations, Reserve Bank of India, 13th Floor, Central Office Building, Mumbai- 400001. In addition applicants should furnish the business Plan and other requisite information as indicated.
Name of SFBs Operational in India?
Some of the Operational small Finance Banks in India are as follows-
-Ujjivan Small Finance Bank
-Janalakshmi small Finance bank
-Equitas Small Finance bank
-A U Small finance bank
-Capital Small finance bank
-ESAF small Finance bank
-Utkarsh Small Finance bank
-Suryoday small finance bank
-Fincare Small Finance bank.