InvestorQ : What services are small finance banks allowed to provide?
Priyanka Singh made post

What services are small finance banks allowed to provide?

Answer
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Nishita Gala answered.
1 year ago


The Reserve Bank of India provided in-principal nod to 10 entities for creating small finance banks. The purpose of creating small finance banks was to bring more individuals in the banking net, thereby increase the penetration of banking in India.

Here are the services small finance banks can provide:

- Sell forex to customers

- Sell mutual funds, insurance and pensions