The Reserve Bank of India said it will issue operating guidelines for small finance banks this week.
Two of the three small finance banks have commenced operations.
Draft operating guidelines were discussed with the applicants who had received the in-principle approvals.
“Based on their comments, operating guidelines have been finalised and will be issued during this week,” a statement from the RBI said.
In August and September 2015, the RBI gave in-principle approvals to 11 applicants to set up payments banks and 10 applicants to set up small finance banks, respectively.
Subsequently, the RBI granted banking licences to three banks to commence small finance bank business, and to one bank to begin payments bank business.