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New RBI guidelines likely to help MFIs become small finance banks

The fact that SFBs open paths to universal banks is assuring to some market players

Nidhi Rai  |  Mumbai 

To give a fillip to its financial inclusion programme, the Reserve Bank of India (RBI) has issued final guidelines on on-tap bank licensing after consulting various stakeholders.

These norms may form the basis for small finance companies and micro-finance institutions (MFIs) to transform into small finance banks (SFBs), bankers and analysts said. “This move will accelerate financial services penetration in the country. The move to enable urban co-operative banks (UCBs), desirous of voluntary transformation into small finance banks (SFBs), would lend greater stability to these ...

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First Published: Sat, December 07 2019. 02:03 IST
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