CURRENT AFFAIRS

Detailed explanation-1: -(i) For Universal Banks: The initial paid-up voting equity share capital/ net worth required to set up a new universal bank, may be increased to ₹1000 crore (from present ₹500 crore).

Detailed explanation-2: -The minimum initial capital requirement for licensing new banks should be enhanced from ₹500 crore to ₹1000 crore for universal banks, and from ₹200 crore to ₹300 crore for small finance banks.

Detailed explanation-3: -At the time of establishment, the authorized capital of the Reserve Bank of India was ₹50 million. The government’s share in this was only ₹2-2.2 million.

Detailed explanation-4: -200 Cr. The minimum capital for Small Finance is prescribed at Rs. 200 crore .