In which year did RBI accord approval to Equitas Holdings to launch a small finance bank?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 2016.
RBI accorded approval to Equitas Holdings to launch a small finance bank in 2016.
- In-principle approval: Equitas Holdings received in-principle approval from the RBI in September 2015.
- License issued: The RBI issued the license to Equitas Small Finance Bank Limited on June 30, 2016.
- Operations commenced: Equitas Small Finance Bank commenced operations as a small finance bank on September 5, 2016.