Varanasi-based Utkarsh Micro Finance has started operating its banking business as Utkarsh Small Finance Bank to cater to the needs of the poor mainly in the northern belt. UK’s Commonwealth Development Corporation (CDC) has infused Rs. 150 crore in the tier II capital in the company.This makes Utkarsh the third company to operate as small finance bank after Ujjvan small finance Bank and Jalandhar based CLAB bank.
Capital Small Finance Bank and Equitas Small Finance Bank all of which got final approval from RBI to operate banking business on November 28, 2016.
So, let’s discuss some questions related to this post:
Q1. Name the Company, which has got the nod of starting operating as Small Finance Bank after the CLAB and Ujjvan, recently?
Ans1. Utkarsh Micro Finace