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RBI prescribes norms for small finance banks trying to deal in foreign exchange


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MUMBAI: The Reserve Financial institution on Monday stated small finance banks which have accomplished two years of operations and have a minimal web value of Rs 500 crore can deal in international change.
In a round, the RBI stated that is being permitted with the target of giving extra flexibility to small finance banks (SFBs) to satisfy their clients’ international change enterprise requirement.
Different standards for getting into the foreign exchange enterprise embrace revenue within the previous two years and web NPAs not being greater than 6 per cent within the earlier 4 quarters.

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