RGVN, one of the 10 recipients of the small finance bank (SFB) license, will raise around $20 million (approximately Rs 130 crore) from the International Finance Corporation (IFC). IFC, the World Bank’s investment arm, said that it would invest up to $20 million in RGVN in the form of a sen…
Tag: small finance bank (SFB)
Utkarsh Micro to focus on affordable housing, MSMEs: CEO
New Delhi Newest small finance bank Utkarsh Micro Finance will focus on affordable housing and MSME segments and target more retail customers to expand its deposit base, a top company official said. Varanasi-based Utkarsh started its small finance bank (SFB) operations last week with five branche…
Utkarsh to start small bank in January
Utkarsh, a Varanasi-based micro-finance institution which had received an in-principle licence from Reserve Bank of India (RBI) last year to start a small finance bank, is planning to start operations in the second week of 2017, Govind Singh, Managing Director and Chief Executive Officer of the m…
RBI issues operational guidelines for Payment, Small Finance Banks
RBI came out with operating guidelines for differentiated banks — payments banks and small finance banks — being set up to bring in new players who would leverage on technology for financial inclusion in a cost effective manner. RBI granted in-principle approvals to 11 entities for setting up pay…
IFC to invest Rs 260 cr in microfinance institution Ujjivan
World Bank’s investment arm International Finance Corporation (IFC) has proposed to invest $40 million (approximately Rs 260 crore) into Ujjivan Financial Services, one of the leading microfinance institutions in India. Ujjivan Financial is among the 10 recipients of small finance bank (SFB) lice…