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Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.?
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Which of the following statements is/are correct Question 9 Not yet an...
Overview of Small Finance Banks (SFBs)
Small Finance Banks (SFBs) were introduced in India to promote financial inclusion by providing basic banking services to underserved sections of the society. They cater primarily to small business units, small and marginal farmers, and unorganized sector entities.
Statement Analysis
- Statement 1: *"SFBs are registered as a public limited company under the Companies Act, 2013."*
This statement is correct. SFBs are indeed established as public limited companies and must adhere to the regulations set forth in the Companies Act, 2013.
- Statement 2: *"They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers."*
This statement is correct. SFBs are required to ensure that at least 25% of their branches are located in unbanked rural areas, aligning with the objective of enhancing financial inclusion.
- Statement 3: *"RBI recently allowed conversion of SFBs with three years of operation into payment banks."*
This statement is incorrect. As of now, the RBI has not permitted the conversion of SFBs into payment banks. SFBs and payment banks serve different purposes and cater to different segments of the market.
Conclusion
In summary, statements 1 and 2 are correct, while statement 3 is incorrect. Therefore, the correct answer to the question is that two out of the three statements are accurate.
Small Finance Banks (SFBs) were introduced in India to promote financial inclusion by providing basic banking services to underserved sections of the society. They cater primarily to small business units, small and marginal farmers, and unorganized sector entities.
Statement Analysis
- Statement 1: *"SFBs are registered as a public limited company under the Companies Act, 2013."*
This statement is correct. SFBs are indeed established as public limited companies and must adhere to the regulations set forth in the Companies Act, 2013.
- Statement 2: *"They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers."*
This statement is correct. SFBs are required to ensure that at least 25% of their branches are located in unbanked rural areas, aligning with the objective of enhancing financial inclusion.
- Statement 3: *"RBI recently allowed conversion of SFBs with three years of operation into payment banks."*
This statement is incorrect. As of now, the RBI has not permitted the conversion of SFBs into payment banks. SFBs and payment banks serve different purposes and cater to different segments of the market.
Conclusion
In summary, statements 1 and 2 are correct, while statement 3 is incorrect. Therefore, the correct answer to the question is that two out of the three statements are accurate.
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Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.?
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Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.?.
Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.?.
Solutions for Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.? in English & in Hindi are available as part of our courses for UPSC.
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Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.?, a detailed solution for Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.? has been provided alongside types of Which of the following statements is/are correct Question 9 Not yet answered Marked out of 2.0 P Flag question PREGOUS PAGE regarding Small Finance Banks (SFBs)? 1. SFBS are registered as a public limited company under the Companies Act, 2013. 2. They have to mandatorily open at least 25 percent of its banking outlets in unbanked rural centers. 3. RBI recently allowed conversion of SFBs with three years of operation into payment banks. Select the correct answer using the code given below.? theory, EduRev gives you an
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