Decision was taken on six applications in May last year

RBI had decided on six of the applications received in May last year. Now RBI has also completed the review work of three applications filed for approval to open Small Finance Bank. Based on this, all the three applications have been found ineligible. These applications were filed on behalf of West End Housing Finance Limited, Cosmi Financial Holdings Private Limited and Akhil Kumar Gupta.

It is necessary to have assets of 500 crores at all times

RBI said that the work of investigation of other applications filed for banking license is still going on. On August 1, 2016, guidelines for granting licenses to the private sector for general banking under the ‘Sada Sulabh’ regime were issued. While these guidelines for Small Finance Bank were issued on December 5, 2019.

What is the rule of opening the bank

According to the guideline, the initial minimum paid-up voting equity capital for Universal Bank should be Rs 500 crore. Thereafter, the bank should have assets of at least Rs 500 crore at all times. On the other hand, the minimum paid-up voting capital for Small Finance Bank (SFB) should be Rs 200 crore. The initial capital for the willing application of the Urban Co-operative Bank should be Rs 100 crore. It is necessary to increase it to Rs 200 crore within the next five years.

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The central government can soon give good news to the employees. The retirement age and pension amount of employees can be increased. This proposal has been issued by the Economic Advisory Committee to the Prime Minister. In this, there has been talk of increasing the working age limit of people in the country.

Along with this, the Economic Advisory Committee of the PM has said that along with increasing the retirement age in the country, Universal Pension System should also be started.

Senior Citizen Safety

According to the report, under this suggestion, a minimum pension of Rs 2000 should be given to the employees every month. Let us tell you that the Economic Advisory Committee has recommended better arrangements for the safety of senior citizens in the country.

Skill development is also important

According to this report, there is a dire need to raise the retirement age if the working age population is to increase. This can be done to reduce the pressure on the social security system. The report also talks about skill development for persons above 50 years of age.

Governments should make policy

It has been said in the report that the central and state governments should formulate such policies so that skill development can be done. This effort should also include those living in the unorganized sector, remote areas, refugees, migrants who do not have the means to get training, but they must be trained.

World Population Prospectus 2019 Report

It is worth noting that according to the World Population Prospectus 2019, there will be around 32 crore senior citizens in India by the year 2050. That is, about 19.5 percent of the country’s population will go into the category of retired. In the year 2019, about 10 percent of India’s population or 140 million people are in the category of senior citizens.

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If you are also familiar with all these services provided by the banks, then probably some special of you readers have also got FD done in the bank. So you have always brought a very good news for all the readers through the article. We hope that this article will definitely make you happy. So to know what is this good news, definitely stay connected with our article till the end.

As we have mentioned in the heading that the bank has increased its FD interest rate. Due to which an atmosphere of happiness has been created among all the FD holders. If you have also made FD, then your interest rate will also increase.

Let us tell you that for the senior citizens of our country,a Suryoday Small Finance Bank , Jana Small Finance Bank and Ujjivan Small Finance Bank have decided to provide interest rates up to 8%. This section is applicable to deposits of less than Rs. 2 crores. As it is in the headlines right now that as a result of the rate hike by the Reserve Bank, the interest rates on bank FDs have also increased.

FD Rates of Suryoday Small Finance Bank

3.25% for 7 to 14 days, 3.75% for senior citizens.
3.25% for 15 to 45 days, for senior citizens 3. 75%.
46 to 90 days 4. 25% for senior citizens 4.75%
91 days to 6 months 4. 25% for angels 5. 25%
5.25% for 6 months to 9 months, 5.75% for senior citizens
Above 9 months but less than 1 year 5.75%, for senior citizens 6.25%
6.50% for 1 year to 1 year 6 months, 7.00% for senior citizens
7.00% for more than 2 years up to 998 days, 7.50% for senior citizens
999 days to 7.49% for senior citizens 7.99%
7.00% for 1000 days to 3 years, 6.80% for senior citizens
Above 3 years but below 5 years 6.50%, for senior citizens 7.00%
6.75% for 5 years, 7.25% for senior citizens
Above 5 years and above 10 years 6.00% for Senior Citizens 6.50%

FD rate of Jana Small Finance Bank

7 days to 14 days – 2.50%, for senior citizens 3.30%
For 15 days to 60 days 3.00% for Senior Citizens 3.80%
3.75% for 61 days to 90 days 4.55% for senior citizens
4.50% for 91 days 180 days, 5.30% for senior citizens
5.50% for 181 days to 364 days, 6.30% for senior citizens
6.50% for 1 year (365 days), 7.30% for senior citizens
7.00% for 1 year and above 2 years, 7.80% for senior citizens
7.25% for 2 years and above and below 3 years, 8.05% for senior citizens
7.25% for 3 years and above and less than 5 years, for senior citizens 8.05% for citizens
7.35% for 5 years (1825 days), 8.15% for senior citizens
6.00% for 5 years and above 10 years, 6.80% for senior citizens

Ujjivan Small Finance Bank FD Rates

3.50 % for 30 days to 89 days, 4.00 % for senior citizens
7 days to 29 days – 2.90%, for senior citizens – 3.40%
4.75% for senior citizens
5.00% for 6 months, 5.50% for senior citizens
6 months and above 4.75% for less than 9 months, 5.25% for senior citizens
5.05% for 9 months, 5.55% for senior citizens
6.50% for 9 months and less than 1 year, 7.30% for senior citizens
6.70 % for 1 year, 7.20% for senior citizens
6.00 % for 12 months and 1 day to 15 months, 6.50 % for senior citizens
7.00% for 15 months and 1 day to 18 months, for senior citizens – 7.50%
18 months and 1 day to less than 24 months – 6.60%, 7.10% for senior citizens
7.10% for 24 months, 7.60% for senior citizens
6.50 % for 990 days, 7.00 % for senior citizens
7.20% for 991 days to 36 months, 7.70% for senior citizens
18 months and less than 1 day for 24 months 6.50%, for senior citizens 7.00%
6.25% for 36 months and 1 day to 42 months , 6.75% for senior citizens
7.20% for 42 months and 1 day to 60 months, 7.70% for senior citizens
6.00 % for 60 months and 1 day up to 120 months, 6.50 % for senior citizens

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