Utkarsh Micro Finance receives licence for Small Finance Bank

Utkarsh Micro Finance on Monday said that it has received final licence from the Reserve Bank of India (RBI) to commence operations as a Small Finance Bank.

Govind Singh, Managing Director and CEO of Utkarsh Micro Finance said, “"This is a very proud moment for Team Utkarsh and we will continue to be committed to the mission of financial inclusion and offer wide range of banking products to the people.”

The banking operations will be called as  'Utkarsh Small Finance Bank ' and is likely to start banking operations in early 2017.

He added, “We look forward to continue as a reliable, scalable and sustainable institution which is process centric, people oriented and backed with technology."

Recently, Ujjivan Financial Service also got approval to start its SFB baring the name of Ujjivan Small Finance Bank.