BANKING AWARENESS FOR RBI GRADE B EXAM

PAYMENT BANK

 It is a Private Ban .

 Payment Bank can accept a Demand Deposit (CASA).

 It cannot accept a Time Deposit (RAFA).

 Payment Bank can accept deposit of up to Rs. 1 lakh per customer.

 Payment Bank can not give Loans.

 It provide Debit Card (ATM Card).

 Minimum Capital required to open this Bank is Rs 100 Crore.

 25 % of a Payment Bank’s Branches must be in the unbanked rural area.

 Foreign share holding is permitted, as per the rule for FDI in Private Banks.

 Committee = Nachiket Mor Committee

SMALL FINANCE BANK

 It is a Private Bank.

 Eligibility: 10 Years’ experience in Banking.

 Small Banks will offer both Deposits as well as Loan Products.

 Minimum Capital Requirement to open this Bank is Rs 100 Crore.

 Foreign share holding is permitted as per the rule for FDI in Private Banks.

 25 % of a Payment Bank’s Branches must be in the unbanked rural area.

 Small Finance Banks have to lend 75 % of their Credit to Priority Sector.

 Committee = Usha Thorat Committee