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    Question

    Which of the following is the first Urban Cooperative Bank to get licence as Small finance Bank?

    A Capital Small Finance Bank Correct Answer Incorrect Answer
    B Shivalik Mercantile Cooperative Bank Correct Answer Incorrect Answer
    C Punjab and Maharashtra Bank cooperative Bank Correct Answer Incorrect Answer
    D Citizen Credit Cooperative Bank Correct Answer Incorrect Answer
    E Bharat Cooperative Bank Correct Answer Incorrect Answer

    Solution

    RBI conferred Shivalik Mercantile Co-operative Bank (SCMB) license to carry on business as a Small Finance Bank (SFB)’s under its voluntary transition scheme. The lender said the entity, renamed as Shivalik Small Finance Bank, which would commence business as an SFB by April 2021, was the first Urban Cooperative Bank (UCB) to transit under the scheme.

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