Shivalik Small Finance Bank starts operations
- Country:
- India
Shivalik Small Finance Bank has commenced operations as a small finance bank, effective Monday, the Reserve Bank of India said.
"The Reserve Bank has issued a licence to the bank...to carry on the business of small finance bank in India," the RBI said in a release.
In January last year, the central bank had given an in-principle approval to the Uttar Pradesh-based urban co-operative bank for transition into a small finance bank.
The RBI had issued the 'Scheme on voluntary transition of Urban Co-operative Bank into a Small Finance Bank' in September, 2018.
There are 10 another small finance banks in the country.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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