Eligibility criteria for SFB into Universal banks

Question 1

How many conditions must be met for SFB’s to transition into Universal banks ?

Answer 1

6

Question 2

What are the 6 conditions ?

Answer 2

1) Scheduled status and satisfactory track record for 5yrs

2) Shares to be listed on a stock exchange

3) Minimum networth of Rs 1000cr

4) Meeting prescribed CRAR requirements for SFBs

5) Net profit in the last 2 financial years

6) GNPA < 3% and NNPA < 1% for 2yrs

Question 3

What is the deadline set by CBIC to conclude investigations against major industry houses and MNC’s ?

Answer 3

1yr