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    List of Payment Banks & Small Finance Banks: For Bank and Government Exams

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    jiby george
    This document provides a summary of payment banks and small finance banks in India: 1) It lists the key features and functions of payment banks and small finance banks as defined by the Reserve Bank of India. 2) It then provides a table listing the 7 payment banks that were approved in India, along with their headquarters and leadership. 3) Similarly, it lists 11 small finance banks, their headquarters, leadership, and taglines.

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    List of Payment Banks & Small Finance Banks: For Bank and Government Exams

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    jiby george
    113 views7 pages
    This document provides a summary of payment banks and small finance banks in India: 1) It lists the key features and functions of payment banks and small finance banks as defined by the Reserve Bank of India. 2) It then provides a table listing the 7 payment banks that were approved in India, along with their headquarters and leadership. 3) Similarly, it lists 11 small finance banks, their headquarters, leadership, and taglines.

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    This document provides a summary of payment banks and small finance banks in India: 1) It lists the key features and functions of payment banks and small finance banks as defined by the Reserve Bank of India. 2) It then provides a table listing the 7 payment banks that were approved in India, along with their headquarters and leadership. 3) Similarly, it lists 11 small finance banks, their headquarters, leadership, and taglines.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    113 views7 pages

    List of Payment Banks & Small Finance Banks: For Bank and Government Exams

    Uploaded by

    jiby george
    This document provides a summary of payment banks and small finance banks in India: 1) It lists the key features and functions of payment banks and small finance banks as defined by the Reserve Bank of India. 2) It then provides a table listing the 7 payment banks that were approved in India, along with their headquarters and leadership. 3) Similarly, it lists 11 small finance banks, their headquarters, leadership, and taglines.

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    of 7

    oliveboard

    Free e-book

    LIST OF PAYMENT BANKS


    &
    SMALL FINANCE BANKS
    For Bank and
    Government Exams
    List of Payment Banks & Small Finance Banks Free Static GK E-Book

    Payment Banks and Small Finance Banks have been in the news for quite a while
    now. Questions related to the these are nowadays asked in General Awareness
    section of Bank and Government Exams like IBPS Clerk, IBPS PO, SBI PO, RBI
    Grade B. Here in this E-Book we give you complete list of Payment Banks and
    Small Finance Banks, their Headquarters and their Heads.
    Sample Questions –
    Q. Which of the following committee was set up by RBI for issuing licenses to
    payments banks?
    1) Nachiket Mor Committee
    2) Usha Thorat Committee
    3) Bimal Jalan Committee
    4) YV Reddy Committee
    Solution: (1) Nachiket Mor Committee
    Q. Where is the headquarter of FINCARE small finance bank?
    1) Chennai
    2) Jalandhar
    3) Jaipur
    4) Bengaluru
    Solution: (4) Bengaluru

    So here we bring to you all the important basics of Payments banks and Small
    Finance Banks with their names, headquarters, heads and taglines. Go
    through these thoroughly so that you don’t miss out on any marks in
    upcoming bank and government exams.
    List of Payment Banks & Small Finance Banks Free Static GK E-Book

    Payment Banks in India – Definition and Functions.


    A payment bank has been categorised as a scheduled bank, conceptualised by
    Reserve Bank of India formed committee headed by Dr Nachiket Mor. The main
    objective of payments bank is to broaden the reach of payment and financial
    services to small businesses, low-income households, migrant labourers in a
    very secured technology-enabled environment.

    Important Features of Payment Banks


    • Payment banks can accept deposits (savings deposit & demand deposit)
    up to a maximum of 1 Lakh per individual customer.
    • Payment banks can open savings as well as current accounts.
    • Payment bank can pay interest on the received deposits just like
    Scheduled Commercial Banks.
    • Payment banks can issue ATM and or debit cards but cannot issue credit
    cards.
    • Payment banks can transfer payments through channels like payment
    bank branches, ATMs (Automated Teller Machines), BCs (business
    correspondents) etc.
    • Internet banking services can be extended by a payment bank which
    includes mechanism approved by RBI such as NEFT/IMPS/RTGS.
    • Payment bank can provide basic financial services like access to mutual
    funds products, insurance products, pension products, foreign exchange
    services subject to the conditions set by RBI.
    • Payments bank cannot undertake lending activities, cannot handle cross-
    border remittances and cannot accept NRI deposits.
    • The minimum capital requirement to set up a payment bank is 100 Crore.

    List of Payment Banks in India Approved by RBI


    1) Aditya Birla Idea Payments Bank
    2) Airtel Payments Bank
    3) India Post Payments Bank, Department of Posts
    4) FINO Payments Bank, FINO PayTech Limited
    5) National Securities Depository Limited Payments Bank
    6) Jio Payments Bank, Reliance Industries Limited
    7) Paytm Payments Bank (Shri Vijay Shekhar Sharma, CEO of Paytm)
    8) Vodafone M-Pesa Payments Bank
    List of Payment Banks & Small Finance Banks Free Static GK E-Book

    Name of the Payment Bank Headquarters Headperson


    Airtel Payments Bank Limited New Delhi Anubrata Biswas, CEO
    Paytm Payment Bank Noida Vijay Shekhar Sharma,
    MD & CEO
    Fino Payment Bank Navi Mumbai Rishi Gupta,
    MD & CEO
    India Post Payment Bank New Delhi Suresh Sethi,
    MD & CEO
    Aditya Birla Idea Payment Bank Mumbai Sudhakar
    Ramasubramanian, CEO
    Jio Payment Bank Navi Mumbai Srikrishnan H,
    MD & CEO
    NSDL Payment Bank Narayanan SP,
    MD and CEO
    List of Payment Banks & Small Finance Banks Free Static GK E-Book

    Small Finance Banks in India – Definition and Functions


    Small Finance Banks are niche banks that focus and service the needs of a certain
    demographic section of the population by providing basic banking products such
    as deposits and extend credit.
    The objective for the setting up of small finance banks was to further financial
    inclusion agenda of the government by supply of credit to small business
    enterprises, small and marginal farmers, micro and small industries and various
    other entities in the unorganised sector. Usha Thorat headed the external
    advisory committee that evaluated the applications received for small finance
    banks. The minimum paid-up equity capital for small finance banks was decided
    to be Rs. 100 Crores.

    Salient Features of Small Finance Banks (SFB)

    • SFB can accept deposits (savings, current, fixed deposits & recurring
    deposits).
    • SFB can undertake lending to unserved and underserved sections
    including small business units, small and marginal farmers, micro and
    small industries and unorganised sector entities.
    • SFBs are not allowed to lend to big businesses or industries.
    • Resident individuals/professionals with 10 years of experience in banking
    and financial sector can apply for SFB Licence.
    • Companies and societies owned or controlled by residents are eligible to
    set up small finance banks.
    • Existing Non-Banking Finance Companies (NBFCs), Micro Finance
    Institutions (MFIs), and Local Area Banks (LABs) owned and operated by
    residents can also opt for conversion into small finance banks.
    • SFBs can provide financial services like mutual funds, insurance products,
    pension products etc but with the prior approval of RBI.
    • SFBs can transform into a full-fledged banking unit after conforming to
    the norms set by RBI.
    • SFBs should have one fourth of its branches set up in
    unbanked/underbanked areas.
    List of Payment Banks & Small Finance Banks Free Static GK E-Book

    Name of the Small Headquarters Headperson Tagline


    Finance Bank
    Capital Small Finance Jalandhar, Sarvjit Singh Vishwas Se Vikas
    Bank Punjab Samra, MD Tak
    AU Small Finance Jaipur, Sanjay Agarwal. Chalo Aage
    Bank Rajasthan MD & CEO Badhe
    ESAF Small Finance Thrissur, Thomas Paul Joy Of Banking
    Bank Kerela Kadambelil,
    MD & CEO
    Ujjivan Small Finance Bengaluru, Samit Ghosh, We Believe In
    Bank Karnataka MD & CEO Your Belief
    North East Small Guwahati, Rupali Kalita, Your Doorstep
    Finance Bank Assam MD & CEO Banker
    Jan Small Finance Bengaluru, Ajay Chamanlal, Likho Apni Kahani
    Bank Karnataka MD & CEO
    FINCARE Small Bengaluru, Rajeev Yadav, A New Era In
    Finance Bank Karnataka MD & CEO Smart Banking
    Begins
    Utkarsh Small Varanasi, Govind Singh, Aapki Ummeed
    Finance Bank Uttar Pradesh MD & CEO Ka Khata
    Suryoday Small Navi Mumbai, R. Bhaskar Babu, A Bank Of Smiles
    Finance Bank Maharashtra MD & CEO
    Equitas Small Chennai, P N Vasudevan, It’s Fun Banking
    Finance Bank Tamil Nadu MD & CEO
    https://www.oliveboard.in/blog

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