In case of urban co-operative banks desirous of voluntarily transiting into SFBs, the initial requirement of net worth is Rs 100 crore, which will have to be increased to Rs 200 crore within five years. , Industry News - Times Now
The applicants rejected were - UAE Exchange and Financial Services, The Repatriates Cooperative Finance and Development Bank Ltd (REPCO Bank), Chaitanya India Fin Credit Pvt Ltd and Pankaj Vaish and others.
On July 4, the excess liquidity, as reflected by the amount of money absorbed by the Reserve Bank of India (RBI), stood at Rs 2.3 lakh crore- highest in one month. The central bank absorbed Rs 2.22 lakh crore of surplus liquidity on July 3, RBI data showed.