BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The promoter’s minimum initial contribution to the paid-up equity capital of such small finance bank shall at least be———?
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50 per cent
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40 per cent
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60 per cent
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30 per cent
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Explanation:
Detailed explanation-1: -The promoter’s minimum contribution of 40 per cent of paid-up equity capital shall be locked in for a period of five years from the date of commencement of business of the bank.
Detailed explanation-2: -200 Cr. The minimum capital for Small Finance is prescribed at Rs. 200 crore .
Detailed explanation-3: -It should have a minimum net worth of INR 5 billion. The bank’s Capital to Risk Weighted Assets Ratio (CRAR) should not be less than 15 percent. The net non-performing assets (NPAs) of the bank should not exceed six percent, during previous four quarters. The bank should have made profit in the preceding two years.
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