List of Small finance banks in India
List of Small finance banks in India
So here is the List of Small fiancé banks in India
AU Small finance Bank Ltd
Founded in Jaipur in 1996 as Au Financiers, a non-deposit taking Non-Banking Finance Company (NBFC), it effectively worked on funding economic growth, especially for the under-served and un-served low & middle-class individuals. For over two decades we provided secured funding to customers largely in Vehicle Loan, Business Loan and Housing Loan segments while organically spreading our geographical presence.
In 2015, when RBI came out with the Small Finance Bank licensing guidelines, AU was the strongest of the 10 selected entities out of 74 applicants to receive this coveted license thanks to its strong foothold and proven track record. Au Financiers transformed into AU Small Finance Bank in April 2017 and the same year we registered a stellar listing while earning trust of renowned investors.
AU is a dream that was started 25 years ago by Mr. Sanjay Agarwal, a merit holder Chartered Accountant and a first-generation entrepreneur.
Capital Small Finance Bank Ltd
Capital Small Finance Bank Limited started operations as India’s 1st Small Finance Bank on April 24, 2016 after conversion from Capital Local Area Bank. Prior to conversion to a Small Finance Bank, Capital Local Area Bank was operating as India’s largest local area bank since January 14, 2000.
The Bank transitioned from a Local Area Bank to Small Finance Bank with 47 Branches. In a short span, 118 new Branches have become operational, taking the total number of Branches to 165. After establishing a strong footprint in the state of Punjab, the Bank has now started expansion to the states of Delhi, Haryana, Rajasthan, Himachal Pradesh along with Union Territory of Chandigarh.
Capital Small Finance Bank has been granted Scheduled Status by the Reserve Bank of India vide Notification dated February 16, 2017.
The total business of the Bank has crossed Rs. 10,680 crores with over 8,88,000 accounts. The Bank has 70% of its business in rural and semi urban areas, with priority sector lending of 78.85% of the Adjusted Net Bank Credit as on March 31, 2022. The Bank is extending loans primarily to small borrowers. As on March 31, 2022, 65.49% of the total advances are up to the ticket size of Rs. 25 lacs.
Fincare Small Finance Bank Ltd
The journey of Fincare Small Finance Bank was the process of coming together of 2 NBFC Micro Finance Institutions, Future Financial Services Private Limited and Disha Microfin Private Limited. Disha Microfin Private Limited received the final license from RBI.
|Au Small Finance Bank Ltd.|
|Capital Small Finance Bank Ltd|
|Fincare Small Finance Bank Ltd.|
|Equitas Small Finance Bank Ltd|
|ESAF Small Finance Bank Ltd.|
|Suryoday Small Finance Bank Ltd.|
|Ujjivan Small Finance Bank Ltd.|
|Utkarsh Small Finance Bank Ltd.|
|North East Small finance Bank Ltd|
|Jana Small Finance Bank Ltd|
|Shivalik Small Finance Bank Ltd|
|Unity Small Finance Bank Ltd|
Equitas Small Finance Bank
Equitas Small Finance Bank is a New Age Bank that gives children, youth, families and business people across India a new way to bank. In our time as a micro finance company, the company silently went about enabling livelihoods and elevating lives. Today, as a small finance bank, the company is also going about changing the very way banking is imagined, delivered and experienced – with TRUST being the key driver.
ESAF Small Finance Bank (ESAF SFB)
ESAF Small Finance Bank (ESAF SFB) the new age social bank continues to redefine the banking experience to all the stakeholders. We primarily focus on expanding the banking horizon to new unbanked/underbanked area, yet we stand as a bank for all with presence in urban, semi urban, rural and rural unbanked areas.
As on 31st March 2022 ESAF Small Finance Bank has 575 banking outlets spread across 21 States and 2 Union Territories. The Bank offers a host of modern banking services like ATMs, Debit Card, Safe Deposit Lockers, Internet banking, Mobile Banking, Agent banking, SMS banking, RTGS, NEFT, CTS etc.
ESAF started it’s journey as an NGO during the year 1992, with a larger vision of sustainable and holistic transformation of the poor and the marginalized. The success of Grameen Bank in Bangladesh reinforced the vision of Shri. K. Paul Thomas the Founder of ESAF. In 1995, he launched Micro Enterprises Development (MED) services and it resulted in the formation of ESAF Microfinance and Investments Pvt. Ltd., in 2008, giving importance of financial component in holistic economic development of the poor and marginalized.
ESAF Microfinance and Investments Pvt. Ltd. was one of the pioneers in establishing a formal and structured form of lending through forming mutually trusted groups at the village level that could not only bring financial sustainability but also reinforced the fact that ‘the poor of our country are trustworthy’.
Suryoday Small Finance Bank
from Micro Finance to a Small Finance Bank took just eight years. Today over 1.4 million “smiling customers” stand testimony to our belief that ‘no matter what, dreams, when enabled will transform mankind and create a whole new world around’.
Suryoday small finance bank is among the 10 companies and the only one from Maharashtra to obtain a ’Small Finance Bank’ licence from the Reserve Bank of India (RBI).