RBI Amends Eligibility Criteria for Small Finance Banks to Transition Into a Universal Bank
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- Last Updated on 29 April, 2024
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Circular No. RBI/2024-25/28 DOR.LIC.REC.20/16.13.218/2024-25, Dated: 26.04.2024
Earlier, RBI vide guidelines dated 05.12.2019 has notified a transition path for Small Finance Banks (SFBs) to convert into Universal Banks. Now, the amended eligibility criteria for an SFB to transition into a Universal bank have been introduced. The SFBs shall have scheduled status with a satisfactory track record of performance for a min. period of 5 years, listed shares, a minimum net worth of Rs 1,000 crore as at the end of the previous quarter, and compliance with CRAR requirements for SFBs.
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