In which of the following cities is the corporate office of North East Small Finance Bank located?

This question was previously asked in
SSC GD 7 Dec 2021 Shift 3 (Official Paper)
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  1. Guwahati
  2. Agartala
  3. Imphal
  4. Shillong

Answer (Detailed Solution Below)

Option 1 : Guwahati
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Detailed Solution

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The correct answer is Guwahati.

Key Points

  • North East Small Finance Bank Limited is the wholly owned subsidiary of RGVN (North East) Microfinance Limited.
  • These banks are a type of niche banks that have been set up with an objective to further financial inclusion.
  • They can provide basic banking services of acceptance of deposits and lending to unserved and underserved sections.
  • The corporate office of North East Small Finance Bank is located in Guwahati.
  • RGVN (North East) received the Small Finance Bank License from the Reserve Bank of India (RBI) on March 31, 2017.

ne-sfb

Additional Information

  • Small Finance Bank
    • These are the financial institutions that provide financial services to the country’s unserved, underserved and unbanked areas of the country. 
    • Its objective is to provide the supply of credit to small business units; small and marginal farmers; micro and small industries; and other unorganised sector entities.
    • It provides 75% loans to the priority sector of its credit.
    • It has a minimum capital of 200cr and 10 years of experience.
    • They are regulated under the RBI act of 1934 and IBRA 1949.
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