Shivalik Small Finance Bank Limited Begins Operations

Shivalik Small Finance Bank Limited Begins Operations

• The UP-based Shivalik Small Finance Bank Limited commenced operations as a Small Finance Bank (SFB) with effect from April 26, 2021.
• It must be remembered that the Shivalik Mercantile Co-operative Bank (SMCB) is the first urban co-operative bank (UCB) in India to receive licence from RBI to operate as a Small Finance Bank (SFB).
• The bank has received the licence from RBI under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India.
• Shivalik SFB area of operation is Uttar Pradesh, Delhi, and parts of Madhya Pradesh and Uttarakhand. 

Points to Remember

1. Shivalik Small Finance Bank Limited has received the licence under which section of RBI Act to operate as SFB?
2. Headquarter of Shivalik Small Finance Bank Limited- Saharanpur district, Uttar Pradesh