Small Finance Bank & Payment Bank - 15 Mints Seminar Notes

 Small Finance Bank & Payment Bank - 15 Mints Seminar Notes

SMALL FINANCE BANK (SFM):

• The Small finance institution is the private sector by providing basic banking activities such as underserved and unserved sections.
  
• They may include small scale farmers,small and micro industries as well as unorganized sector.
  
• To start a small finance bank an individual or professional with minimum of 10 years of experience in the banking and finance sector in eligible to start (SFM).
  
• They are registered as a public limited company under the company’s Act of 2013.
  
• Small finance banks will be established with goal of increasing financial inclusion by,
  

1. Providing savings vehicles.
   
2. Providing credit to small business and marginal farmers.
   
3. Small industries.
   

List of small finance banks:

• Ujjivan
  
• Janalakshmi
  
• Equities
  
• Au
  
• Capital
  
• Fincare

Payment banks:

• The reserved bank of india conceptualized payment banks as a new type of bank in India (RBI).
  
• These banks can accept a restricted deposit which now can currently limited to 2lakhs per customer.
  
• These banks cannot issue ATM and debit cards.
  
• Both current and savings accounts can be operated by such banks.
  
• Payment banks can issue ATM and debit cards and provide online and mobile banking.
  
• Bharathi Airtel launched first payment bank named Airtel payment bank in March 2017.
  

List of Active payment Banks:

• Airtel payment bank.
  
• India post payment bank.
  
• Fino payment bank.
  
• Jio payment bank.
  
• Paytm payment bank.
  
• NSDL payment .
  

 

Presented By,

Rakshith

Banking Student 

Magme School Of Banking