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Name the 1st Urban Cooperative Bank (UCB) that received Reserve Bank of India (RBI)’s approval to function as Small Finance Bank (SFB).
  • a)
    Indore Swayamsiddh Mahila Co-Operative Bank
  • b)
    Buldana Urban Co-Operative Bank Limited
  • c)
    Shivalik Mercantile Co-operative Bank Ltd
  • d)
    Arihant Urban Co-Operative Bank Limited
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Name the 1st Urban Cooperative Bank (UCB) that received Reserve Bank o...
On January 06,2020 the Reserve Bank of India (RBI), gave approval to Uttar Pradesh based Shivalik Mercantile Co-operative Bank Ltd to convert to a small finance bank (SFB). With this, Shivalik Mercantile became the 1st urban cooperative bank (UCB) to be converted into an SFB since the release of reformed RBI guidelines which came out 2 years ago. Grant of License: The RBI will grant licence to Shivalik Mercantile bank for the commencement of banking business under Section 22 (1) of the Banking Regulation Act, 1949 as an SFB.
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Name the 1st Urban Cooperative Bank (UCB) that received Reserve Bank of India (RBI)’s approval to function as Small Finance Bank (SFB).a)Indore Swayamsiddh Mahila Co-Operative Bankb)Buldana Urban Co-Operative Bank Limitedc)Shivalik Mercantile Co-operative Bank Ltdd)Arihant Urban Co-Operative Bank Limitede)None of theseCorrect answer is option 'C'. Can you explain this answer?
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Name the 1st Urban Cooperative Bank (UCB) that received Reserve Bank of India (RBI)’s approval to function as Small Finance Bank (SFB).a)Indore Swayamsiddh Mahila Co-Operative Bankb)Buldana Urban Co-Operative Bank Limitedc)Shivalik Mercantile Co-operative Bank Ltdd)Arihant Urban Co-Operative Bank Limitede)None of theseCorrect answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Name the 1st Urban Cooperative Bank (UCB) that received Reserve Bank of India (RBI)’s approval to function as Small Finance Bank (SFB).a)Indore Swayamsiddh Mahila Co-Operative Bankb)Buldana Urban Co-Operative Bank Limitedc)Shivalik Mercantile Co-operative Bank Ltdd)Arihant Urban Co-Operative Bank Limitede)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Name the 1st Urban Cooperative Bank (UCB) that received Reserve Bank of India (RBI)’s approval to function as Small Finance Bank (SFB).a)Indore Swayamsiddh Mahila Co-Operative Bankb)Buldana Urban Co-Operative Bank Limitedc)Shivalik Mercantile Co-operative Bank Ltdd)Arihant Urban Co-Operative Bank Limitede)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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