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The Times of India

Business

PTI

RBI prescribes norms for small finance banks looking to deal in forex

RBI Reserve Bank Mumbai

MUMBAI: The Reserve Bank on Monday said small finance banks which have completed two years of operations and have a minimum net worth of Rs 500 crore can deal in foreign exchange.

In a circular, the RBI said this is being permitted with the objective of giving more flexibility to small finance banks (SFBs) to meet their customers' foreign exchange business requirement.

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