Which one of the following statements about Small Finance Banks (SFB) is not correct?
1
They are registered as a public limited company under the Companies Act, 2013.
2
SFBs does not need to maintain a Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR).
3
They cannot be a Business Correspondent (BC) for another bank.
4
SFBs can also transit to a universal bank.