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In this article, We will discuss an updated list of Small & Payment banks in India.
Their aim is to redefine banking & give their customers a convenient banking experience & no one is deprived of banking. This bank is based in Jaipur, four pillars on which it st&s is Inclusiveness, Progress for all, Simplicity, Action & Urgency.
This bank started its operations on April 24, 2016, & is based in Jal&har isIndia’s 1st Small Finance Bank. It operated for 16 years as the largest local area bank before its conversion to Small Finance Bank.
Disha Microfinance started in 2009 in Ahmedabad as NBFC MFI registered with the Reserve Bank of India & aimed to provide high-quality financial services. It has been recently granted license from the RBI in May-17 to form Fincare Small Finance Bank.
It is a new age bank that gives people across India a new & fun way to the bank. They are changing the way banking experienced with FUN being the key driver.
ESAF Microfinance will be now the first Small Finance Bank from Kerala which will provide responsive banking services to the underserved & un-served households in India.
On 29 April 2017 Janalakshmi Financial Services (JFS), was announced the receipt of the license from Reserve Bank of India (RBI) to set up Small Finance Bank. The Small Finance Bank aims to empower the unbanked segments of the society with cashless transactions, savings account, & more.
RGVN, the only microfinance firm from the north-east to receive the license to set up a small finance bank. They intend to add 32 more branches by March next year. All branches will be operating as a full-fledged bank by fiscal 2018.
On 23 January 2017 Suryoday Micro Finance Private Ltd. started its operations as Suryoday Small Finance Bank. They will continue to offer their existing credit products & offer digital banking as well as focus on the unserved & undeserved through innovative banking practices.
In the year 2016, Ujjivan received the final license from the RBI to set up Small Finance Bank business. As on February 2017, they are present across 24 states.
Utkarsh Micro Finance Limited will now be known as Utkarsh Small Finance Bank which will provide financial awareness to support underserved & underprivileged segments of the population by sustainably providing financial & non-financial services.
Read our article:Loan Mela’s for NBFCs; Govt. Attempts to Boost Liquidity
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