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RBI advises Small Finance Banks to continue to evolve in tune with differentiated banking licenses


The Reserve Bank of India (RBI) has advised Small Finance Banks (SFBs) to continue to evolve in tune with the differentiated banking license given to them in a meeting held on June 10.

The emphasis was laid on sustainable growth of SFBs, majorly on the governance system and business models, by the RBI.

Asset quality concerns including variable portfolio mix, further strengthening of customer services and grievance redressal mechanism were some other topics of discussion.

The meeting was attended by the deputy governors of RBI, M K Jain and M. Rajeshwar Rao along with EDs of supervision and regulation.

Earlier, in 2021, RBI had met with SFBs to discuss issues arising due to Covid-19 along with requisite mitigation measures, assurance functions and augmenting IT infrastructure.



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