• Utkarsh Micro Finance has received final license from the Reserve Bank of India (RBI) to start operations as Small Finance Bank (SFB) on November 27, 2016. In October, 2015, Utkarsh Micro Finance had got the 'in-principle' approval to set-up SFB as per the guidelines issued by the RBI.
• Incorporated in 2009, Utkarsh Micro Finance is among the top 10 micro finance company in the country with operations in 10 States. The new SFB will be named as Utkarsh Small Finance Bank Limited and is likely to start banking operations in early 2017.
• The small finance bank will primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
• Incorporated in 2009, Utkarsh Micro Finance is among the top 10 micro finance company in the country with operations in 10 States. The new SFB will be named as Utkarsh Small Finance Bank Limited and is likely to start banking operations in early 2017.
• The small finance bank will primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
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