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Updated: 31 Oct 2023
4 Min Read
AU Small Finance Bank and Fincare Small Finance Bank have agreed to merge under Banking Regulation Act of 1949.
Difference Between NBFC and Small Finance Bank
Parameters |
NBFCs |
SFBs |
Meaning |
Engaged in providing loans, acquiring bonds, and government securities.
|
Small Finance Banks are authorized by the government to provide basic banking facilities to underserved areas. |
Regulated by |
The Department of Non-Banking Supervision (DNBS) under Reserve Bank of India Act, 1934. |
Banking Regulations Act, 1949; RBI Act, 1934. |
Credit Creation |
NBFCs also offer Credit facilities |
SFBs offer Credit facilities |
Demand Deposit |
NBFCs do not accept demand deposits |
Demand deposits are acceptable by SFBs |
Transaction Services |
Not offered |
Offered by SFBs |
Previous Merger of Bank
Acquirer Bank |
Merged Bank |
Punjab National Bank |
Oriental Bank of Commerce United Bank of India |
Canara Bank |
Syndicate Bank |
Indian Bank |
Allahabad Bank |
Union Bank of India |
Andhra Bank Corporation Bank |
Bank of Baroda |
Dena Bank Vijaya Bank |
State Bank of India |
State Bank of Bikaner and Jaipur State Bank of Hyderabad State Bank of Mysore State Bank of Patiala State Bank of Travancore Bharatiya Mahila Bank |
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