Home » RBI grants banking licence to Unity...

RBI grants banking licence to Unity Small Finance Bank

Sumit Arora Published On October 13th, 2021 Leave a comment

The Reserve Bank of India has granted a banking licence to Unity Small Finance Bank Ltd (USFBL), which was established jointly by the Centrum Financial Services Ltd (CFSL) and Resilient Innovations Private Limited (BharatPe), to carry on a SFB business in India. It is the first time ever that two partners are uniting equally to build a Bank. The proposed business model is one of collaboration and open architecture, uniting all its stakeholders to deliver a seamless digital experience.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

RBI had accorded “in-principle” approval to CFSL, a wholly-owned subsidiary of Centrum Capital, on June 18 to set up a small finance bank (SFB). Centrum’s MSME and Micro Finance businesses shall be merged into Unity Small Finance Bank.

Find More Banking News Here

About the Author

Sumit Arora

Author

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.