RBI has clarified that Payment Banks and Small Finance Banks are now allowed to access the call money market both as borrowers and lenders. This is allowed even while the process to get themselves included in the second schedule of the RBI Act, 1934. Second schedule are basically scheduled banks and includes commercials banks and co-operative banks.
The payment banks and small finance banks have to adhere to the prudential limits and other guidelines on call money market. They have to follow the master directions on money market instruments which can be found here. Call money market includes the call/ notice/ term money market.
The RBI notification can be accessed here
The payment banks and small finance banks have to adhere to the prudential limits and other guidelines on call money market. They have to follow the master directions on money market instruments which can be found here. Call money market includes the call/ notice/ term money market.
The RBI notification can be accessed here
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