Payment & Small Banks
Banking · पेमेंट और स्मॉल बैंक
📋Quick Overview
In 2015, RBI granted 'in-principle' licenses for two new categories of banks — Payment Banks and Small Finance Banks — to promote financial inclusion. Payment Banks can accept deposits (up to ₹2 lakh per account) but CANNOT lend money or issue credit cards. Small Finance Banks can both accept deposits AND lend, with 75% of their lending mandated for priority sector. Both were recommended by the Nachiket Mor Committee (2014).
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Payment Banks: 11 licensed (Nachiket Mor Committee) | Deposit limit ₹2 lakh | NO lending | Small Finance Banks: 10 licensed | 75% priority sector lending
📖Payment Banks — Licensed Entities
| S.No. | Payment Bank | Status |
|---|---|---|
| 1 | Airtel Payments Bank | Operational |
| 2 | India Post Payments Bank (IPPB) | Operational |
| 3 | FINO Payments Bank | Operational |
| 4 | Paytm Payments Bank | Operational |
| 5 | Jio Payments Bank | Operational |
| 6 | NSDL Payments Bank | Operational |
| 7 | Aditya Birla Payments Bank | Surrendered license (2019) |
| 8 | Vodafone m-Pesa (now Vi) | Surrendered license |
| 9 | Cholamandalam Finance | Did not start |
| 10 | Dilip Shanghvi (Sun Pharma) | Did not start |
| 11 | Tech Mahindra | Did not start |
📖Small Finance Banks — Licensed Entities
| S.No. | Small Finance Bank | Previous Entity |
|---|---|---|
| 1 | AU Small Finance Bank | AU Financiers (Jaipur) |
| 2 | Capital Small Finance Bank | Capital Local Area Bank (Jalandhar) |
| 3 | Equitas Small Finance Bank | Equitas Holdings (Chennai) |
| 4 | ESAF Small Finance Bank | ESAF Microfinance (Thrissur) |
| 5 | Fincare Small Finance Bank | Disha Microfin (Bengaluru) |
| 6 | Jana Small Finance Bank | Janalakshmi Financial (Bengaluru) |
| 7 | North East Small Finance Bank | RGVN Microfinance (Guwahati) |
| 8 | Suryoday Small Finance Bank | Suryoday Microfinance (Mumbai) |
| 9 | Ujjivan Small Finance Bank | Ujjivan Financial (Bengaluru) |
| 10 | Utkarsh Small Finance Bank | Utkarsh Micro Finance (Varanasi) |