Coop banks can have POS ter­mi­nals

Banking Frontiers - - Cooperative -

The Re­serve Bank of In­dia has per­mit­ted co­op­er­a­tive banks to de­ploy their own and third-party POS ter­mi­nals. RBI has, how­ever, placed some re­stric­tions on these banks while de­ploy­ing their own ter­mi­nals. They need to have a min­i­mum net worth of `25 crore with gross NPAs of less than 7% and net NPAs of less than 3% in the pre­ced­ing fi­nan­cial year. These banks should also not de­fault in main­tain­ing cash re­serve ra­tio (CRR) and statu­tory liq­uid­ity re­quire­ments (SLR) in the pre­ced­ing fi­nan­cial year.

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