10 entities, including Ujjivan Financial Services and Equitas Holdings, on Wednesday got RBI’s approval to set up Small Finance Banks to provide basic banking services to small farmers and micro indus-tries. Other entities to get the Reserve Bank’s nod are Au Financiers (Jaipur), Capital Lo-cal Area Bank (Jalandhar), Disha Microfin (Ahmedabad), ESAF Microfinance (Chen-nai), Janalakshmi Financial (Bengaluru), RGVN (North East) Microfinance (Guwa-hati), Suryoday Micro Finance (Mumbai) and Utkarsh Micro Finance (Varanasi). The “in-principle” approval will be valid for 18 months to enable these entities comply with the guidelines on Small Finance Banks, RBI said in a statement.
Business & Economics
RBI LETS BANKS ISSUE MASALA BONDS, TO ACCEPT CORPORATE BONDS IN LAF
MUMBAI (TIP): Reserve Bank on Thursday announced a slew of changes in fixed income and currency markets such as allowing lenders to issue ‘masala bonds’ and to accept corporate bonds under the liquidity adjustment facility […]
United States
Substantial Foreign Direct Investment in the United States: Report
WASHINGTON (TIP): The United States has been the world’s largest recipient of foreign direct investment (FDI) since 2006. Every day, foreign companies establish new operations in the United States or provide additional capital to established […]
United States
Xoom Announces Instant Deposit Service to Kotak Mahindra Bank Accounts in India
SAN FRANCISCO, CA (TIP): Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, is now offering instant deposits to Kotak Mahindra Bank accounts in India. This revolutionary service allows Xoom customers to instantly deposit […]
1 Trackback / Pingback