Mumbai, December 6: The Reserve Bank of India (RBI) recently issued final guidelines for ‘on tap’ licensing of Small Finance Banks (SFB) in the private sector. This comes after the central bank’s constant efforts to bring in new guidelines simultaneously while gaining experience in dealing with these banks on a continuous basis, since November 2014. Post inviting and taking comments from various stakeholders and members of the public, the RBI issued a slew of measures on licensing SFBs. To start the licensing window it will be open on-tap for SFBs with minimum paid-up voting equity capital / net worth requirement of Rs 200 crore. That said for Urban Co-operative Banks (UCBs), the desire to convert voluntarily into SFBs would require them to have an initial net worth of Rs 100 crore, thereby increasing the same to Rs 200 crore within five years from the date of commencement of business.