RBI grants small finance bank licence to Unity SFB

RBI grants small finance bank licence to Unity SFB

• Reserve Bank of India has a granted small finance bank licence to the consortium of Centrum Financial Services Limited (Centrum), and Resilient Innovations Private Limited (BharatPe) named Unity Small Finance Bank.
• The Unity Small Finance Bank will take over the assets and liabilities of Punjab and Maharashtra Co-operative Bank.
• RBI had given in-principle approval to Centrum Financial Services Limited to set up a small finance bank in June 2021.

Points to remember:

1. Unity Small Finance Bank has been launched by?- Centrum Financial Services Limited (Centrum), and Resilient Innovations Private Limited (BharatPe)
2. Unity Small Finance Bank will take over the assets and liability of which bank?

Source: Moneycontrol