Utkarsh CoreInvest Limited
| Public | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | 2018 |
| Founder 👔 | |
Area served 🗺️ | India |
| Products 📟 | Holding company for banking subsidiary |
| Members | |
Number of employees | |
| Parent | None |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Utkarsh CoreInvest Limited is an Indian financial services holding company headquartered in Varanasi, Uttar Pradesh, India. The company functions as the promoter and holding entity of Utkarsh Small Finance Bank, a scheduled commercial bank regulated by the Reserve Bank of India (RBI).
The company was incorporated as part of a regulatory restructuring process in compliance with RBI guidelines governing ownership structures of small finance banks.[1]
History
Utkarsh CoreInvest Limited was incorporated in 2018 following the transition of Utkarsh Micro Finance Limited into a small finance bank. The restructuring was undertaken to align with the regulatory framework prescribed by the Reserve Bank of India for small finance banks and non-operative financial holding companies (NOFHCs).[2]
The holding company structure was implemented to separate ownership and control from operational banking activities, in accordance with RBI licensing conditions.
Corporate structure
Utkarsh CoreInvest Limited operates as a non-operative financial holding company. It does not undertake independent banking operations. Its primary asset is its shareholding in Utkarsh Small Finance Bank.
The structure ensures regulatory separation between promoter entities and the bank’s operational management, as required under RBI norms.[3]
Subsidiary
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank commenced operations after receiving approval from the Reserve Bank of India to operate as a small finance bank. The bank provides financial services including:
- Microfinance loans
- Retail banking services
- MSME financing
- Housing loans
- Savings and deposit products
The bank primarily serves underserved and unbanked populations in semi-urban and rural regions across India.[4]
Financial information
As a holding company, Utkarsh CoreInvest Limited’s financial performance is primarily linked to the performance of its banking subsidiary. Financial disclosures are made through statutory filings and annual reports as required under Indian corporate and banking regulations.
Detailed financial data should be verified through audited annual reports and regulatory disclosures.[5]
Regulation
Utkarsh CoreInvest Limited operates within the regulatory framework of:
- Reserve Bank of India
- Companies Act, 2013
- Applicable SEBI regulations (if listed)
The NOFHC structure ensures compliance with ownership and capital adequacy norms applicable to small finance banks.
Governance
The company is governed by a board of directors in accordance with the provisions of the Companies Act, 2013 and applicable RBI regulations. Board composition and governance policies are disclosed in statutory filings and annual reports.
Notability
Utkarsh CoreInvest Limited is associated with the establishment and operation of Utkarsh Small Finance Bank, part of India’s small finance bank sector introduced to promote financial inclusion.[6]
See also
- Utkarsh Small Finance Bank
- Small finance banks in India
- Banking in India
- Financial inclusion in India
References
- ↑ "Guidelines for Licensing of Small Finance Banks". Reserve Bank of India. Missing or empty
|url=(help) - ↑ "Utkarsh transitions to small finance bank structure".
- ↑ "RBI Regulatory Framework for NOFHC". Reserve Bank of India. Missing or empty
|url=(help) - ↑ "Utkarsh Small Finance Bank expands rural presence".
- ↑ "Annual Report – Utkarsh Small Finance Bank". Missing or empty
|url=(help) - ↑ "Role of small finance banks in India's financial inclusion".
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