Q. With reference to the eligibility criteria for a Small Finance Bank (SFB) to transition into a Universal Bank in India, consider the following statements:
1.The SFB must have Scheduled Bank status for at least five years.
2.The shares of the bank must be listed on a recognised stock exchange.
3.The bank’s net worth must be at least Rs. 1,000 crore.
How many of the statements given above are correct?
Answer: A
Notes:
Explanation:
- Statement 1 is correct – Scheduled status for a minimum of five years is mandatory.
- Statement 2 is correct – Shares must be listed on a recognised stock exchange.
- Statement 3 is correct – Minimum net worth requirement is Rs.1,000 crore.
Source- ET
