Financial Awareness - Risk, Stability & Emerging Finance
Which of the following was the first Small Finance Bank to commence banking operations in India?
Which of the following was the first Small Finance Bank to commence banking operations in India?
medium Q8 of 15
Step-by-Step Solution
Step 1: Understand the concept
The question asks for the first Small Finance Bank to commence banking operations in India, not merely receive an in-principle license.Step 2: Recall factual timeline
Capital Small Finance Bank, converted from Capital Local Area Bank, commenced operations as a Small Finance Bank in April 2016, making it the first to start operations.Step 3: Eliminate other options
AU Small Finance Bank, Equitas Small Finance Bank, and Ujjivan Small Finance Bank commenced operations after Capital Small Finance Bank.Final Answer:
Capital Small Finance Bank → Option DQuick Check:
First operational Small Finance Bank = Capital Small Finance Bank ✅
Quick Trick: First operational Small Finance Bank = Capital Small Finance Bank (2016).
Common Mistakes:
- Confusing the first in-principle license with the first commencement of banking operations.
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