BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Jaipur
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Chennai
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Bengaluru
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Kolkata
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Detailed explanation-1: -Capital Small Finance Bank (erstwhile Capital Local Area Bank) is the India’s first small finance bank founded in April 2016 as a microfinance lender, with its headquarters in Jalandhar, India.
Detailed explanation-2: -The Reserve Bank of India issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949. Prior to becoming a bank, the company was India’s largest microfinance institution, Janalakshmi Financial Services, founded July 24, 2006.
Detailed explanation-3: -The Reserve Bank had issued the Guidelines for Licensing of “Small Finance Banks” in the Private Sector on November 27, 2014. The process of licensing culminated in granting in-principle approval to ten applicants and they have since established the banks.
Detailed explanation-4: -The promoter of Jana Small Finance Bank is Jana Capital Limited, which is held by Jana Urban Foundation and other investors.