Small Bank And Payment Bank


 
 
Concept Explanation
 

  Small Bank And Payment Bank

  Payment Banks Small banks
What they can do
  • Offer Internet Banking
  • Sell Mutual Funds / Insurance / Pensions
  • Offer Bill Payment Service
  • Have ATMs & BCs
  • Can function as BC of other Banks
  • Sell forex to customers
  • Sell Mutual Funds / Insurance / Pensions
  • Can convert into a full - fledged bank
  • Operate across the country
  • What they can't do
  • Offer Cridit Crads
  • Extend Loans
  • Handle Cross Remittances
  • Accept NRI Deposits
  • Grant Large Loans
  • Float subsidiaries
  • Can't sell complicated financial products
  • Eligibility Criterion
  • Issuer of Pre - Paid Cards, Telecom Companies, NBFCs, Banking Companies, Super Market Chain, Real Estate, Companies, PSUs
  • Minimum Capital Rs. 100 Crores
  • 75% Capital must be inve G - Sec.
  • Individuals / Pofessionals with equal to or  than 10 years of experience, NBFCs, Micro Organization and Local Area Banks
  • Minimum Capital Rs. 100 Crores
  • 75% Lending in PSL
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