Exams › IBPS PO › General Awareness

After how many years of successful operation can a Payment Bank be converted into a Small Finance Bank?

1. 4
2. 5
3. 10
4. 6

Correct answer: 5

Solution

As per RBI guidelines, a payments bank can apply for conversion into a small finance bank after completing a prescribed period of successful operation. The required period is 5 years.

Related IBPS PO General Awareness questions

• All women SHGs under DAY-NRLM will be eligible for interest subvention on prompt payment to the extent of the difference between the lending rates and 7% for loans up to ₹3,00,000, subject to a maximum of
• For how many months is a demand draft valid?
• Who has been appointed as the MD and CEO of the National Payments Corporation of India (as of 2020)?
• Real Time Gross Settlement (RTGS) system is primarily meant for large-value transactions. The minimum amount to initiate a transaction through RTGS is ₹2 lakh, with no upper or maximum ceiling.
• The Regional Rural Banks Act, 1976 mainly provides for the incorporation, regulation, and winding up of Regional Rural Banks (RRBs). The Act mandates that of the capital issued by an RRB, ___% shall be held by the Central Government, ___% by the concerned State Government, and ___% by the sponsor bank.
• According to RBI regulations, what is the minimum age a child must have completed to open and operate a savings bank account independently?

⚔️ Practice IBPS PO General Awareness free + battle 1v1 →