Utkarsh Small Finance Bank Limited (USFBL) expands its presence

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USFBL MD and CEO, Mr. Govind Singh inaugurated 22 branch outlets via video conferencing across various States and Union Territory.

On its 13th foundation day, Utkarsh Small Finance Bank Limited (USFBL) announced the inauguration of 22 branch outlets in India.

Mr. Govind Singh, MD, and CEO of USFBL inaugurated the outlets via video conferencing across various States and Union Territory, namely Uttar Pradesh, Bihar, Jharkhand, Odisha, Karnataka, Gujarat, Haryana, Panjab, Rajasthan, Maharashtra, and Puducherry. With this, the bank has reached 737 branches in the country spread across 23 states and UTs. 

These outlets’ launch is aligned with the bank’s strategy to extend its reach in existing and newer geographies. This is to include wholesale lending, micro banking loans (such as Joint Liability Group – JLG loans), micro, small, and medium enterprise (MSME) loans, housing loans, loans against property, commercial vehicles, and construction equipment loans as well as gold loans along with the current and savings accounts, term and recurring deposits, insurance products, already being offered to its customers.

USFBL aims to provide financial services to the underserved and unserved customer segments while serving the other segments of society. The bank also provides a facility to open a bank account without having to visit the branch through the tablet-based application-assisted model called “Digi On-Boarding”.

Utkarsh Small Finance Bank Limited was incorporated on April 30, 2016, and is engaged in providing banking and financial services with a focus on providing microfinance. Its micro-banking operations are focused in rural and semi-urban locations of the country while its general banking operations are spread across the country. The bank commenced its operations on January 23, 2017, after being granted the small finance banking licence by the Reserve Bank of India on November 25, 2016.

The bank also offers a slew of digital services such as internet and mobile banking, Digi On-boarding, UPI, and online account opening facility to clients along with a range of ATMs and Micro ATMs for ease of transactions, among others. The bank has its headquarters in Varanasi, Uttar Pradesh.

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Keyur Desai
Keyur Desai
Content Writer | Journalism Intern at Asiana Times

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