Utkarsh Small Finance Bank Limited
| File:Utkarsh Small Finance Bank Ltd.jpg Utkarsh Tower.png | |
| File:Utkarsh Tower.png Headquarter in Sarayswami, Varanasi | |
| Public | |
| Traded as | NSE: UTKARSHBNK BSE: 543942 |
| ISIN | 🆔INE735W01017 |
| Industry | Banking and financial services |
| Founded 📆 | 30 April 2016 |
| Founder 👔 | Govind Singh |
Area served 🗺️ | |
Key people | Govind Singh (MD & CEO)
Parveen Kumar Gupta (Chairman) Sarjukumar P. Simaria (CFO) |
| Products 📟 | Retail banking, microfinance, MSME loans, housing loans, deposits, digital payments |
| Revenue🤑 | ₹3,641 crore (US$430 million) (FY 2021) |
| ₹384 crore (US$45 million) (FY 2021) | |
| Total assets | ₹20,941 crore (US$2.8 billion) (FY 2021) |
| Members | |
Number of employees | |
| Parent | Utkarsh CoreInvest Limited |
| 🌐 Website | https://www.utkarsh.bank.in |
| 📇 Address | |
| 📞 telephone | |
Utkarsh Small Finance Bank Limited is an Indian small finance bank headquartered in Varanasi, Uttar Pradesh. It was incorporated on 30 April 2016 and commenced operations on 23 January 2017 after receiving a licence from the Reserve Bank of India (RBI). The bank provides a broad suite of retail and microfinance banking products and services, focusing on financial inclusion, microcredit, and banking access for under-served populations in rural and semi-urban India. It is a subsidiary of Utkarsh CoreInvest Limited.
History
Establishment
Utkarsh Small Finance Bank was incorporated on 30 April 2016 following an in-principle approval to operate as a small finance bank granted by the Reserve Bank of India. The bank commenced operations on 23 January 2017 after transfer of microfinance business by its promoter Utkarsh CoreInvest Limited to the bank as a going concern.
In 2017, the bank was included in the Second Schedule of the Reserve Bank of India Act, which designated it as a Scheduled Commercial Bank, reflecting adherence to regulatory norms for capital, liquidity, and governance.
Expansion and product diversification
After its launch, Utkarsh SFB expanded its footprint across India’s states and union territories, providing banking services through a network of banking outlets, micro-ATMs and digital channels. The bank diversified its product offerings beyond microfinance to include retail loans, affordable housing finance, MSME lending, unsecured personal loans, wholesale lending, and gold loans alongside standard deposit products and digital banking services.
In July 2023, the bank launched an initial public offering (IPO), raising capital through a combination of fresh issuance and offer-for-sale equity, which supported its growth strategy.
Services and products
Utkarsh Small Finance Bank offers a range of banking products and services, including:
- Savings and current accounts
- Fixed deposits and recurring deposits
- Microfinance and retail loans, including microloans under the Joint Liability Group (JLG) model and MSME loans
- Housing loans and secured lending
- Commercial vehicle and construction equipment financing
- Wholesale lending to enterprises
- Digital banking services such as internet banking, mobile banking and UPI
- Aadhaar Enabled Payment System (AePS), interoperable cardless cash withdrawals and bill payment services
- ATM-cum-debit cards and micro-ATM services
- Bharat BillPay integrated payments and other payment services.
Technology and digital initiatives
Utkarsh SFB has invested in digital infrastructure to enhance customer experience and financial access. Among its notable innovations is the introduction of interoperable cardless cash withdrawals (ICCW) using the Unified Payments Interface (UPI) on ATM networks, in line with regulatory directives to promote interoperable and secure cash access.
The bank also partners with payments technology providers to upgrade payment processing and debit card services to support ATM, point-of-sale (POS) and e-commerce transactions on multiple payment networks.
Regulation
Utkarsh Small Finance Bank is regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and other applicable banking laws. As a small finance bank, it adheres to mandatory reserve requirements, capital adequacy norms, and financial inclusion mandates designed to expand access to formal banking services.
Operations and network
The bank operates across multiple Indian states and union territories, with a network of over 1,000 banking outlets supported by ATMs and micro-ATMs. Its customer base spans both rural and urban demographics, reflecting a strategy of financial inclusion and digital expansion.
See also
References
External links
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