2. The existing criteria were reviewed and it is advised that the banks fulfilling the following criteria would now be termed as FSWM UCBs:
a) Maintenance of a minimum CRAR of 10% on a continuous basis.
b) Gross NPAs of less than 7% and Net NPAs of not more than 3%.
c) No default in the maintenance of CRR / SLR during the preceding financial year.
d) Continuous Net profit for the last three years.
e) Sound internal control system with at least two professional directors on the Board.
f) Regulatory comfort based on inter alia, record of compliance to the provisions of Banking Regulation Act, 1949 (AACS), RBI Act, 1934 and the instructions / directions issued by RBI from time to time.
3. The new criteria would henceforth be considered for processing applications received from UCBs for branch authorizations, opening of on-site and off-site ATMs, extension of Area of Operation, shifting of premises and other permissions from RBI.