BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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25%
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40%
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75%
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50%
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Detailed explanation-1: -Basel II norms will be generally applicable to the small finance banks, unless stipulated otherwise. The promoters shall hold a minimum of 40 per cent of the paid-up voting equity capital of the bank, which shall be locked-in for a period of five years from the date of commencement of business of the bank.
Detailed explanation-2: -The promoter’s minimum initial contribution to the paid-up equity capital of such small finance bank shall at least be 40 per cent.
Detailed explanation-3: -The small finance bank should have completed at least two years of operations as Authorized Dealer Category II. The bank should have been included in the Second Schedule to RBI Act, 1934. It should have a minimum net worth of INR 5 billion.