New Delhi: Ujjivan Small Finance Bank (USFB) is aiming to become a “mass market bank” in the next five years, its Managing Director and CEO Samit Ghosh said. It also plans to — after five years — apply to the Reserve Bank of India (RBI) to become a full-fledged universal commercial bank, Ghosh sa…
Tag: Ujjivan Financial Services
Ujjivan begins operations as small finance bank; opens five pilot branches in Bengaluru
Ujjivan Financial Services on February 6 commenced operations as a small finance bank (SFB) with launch of five pilot branches in Bengaluru. These five branches, Ujjivan SFB said, will provide full service offerings. “In the next one month, the bank will comprehensively test its technology, chann…
Small is beautiful: Some of the SME stocks you ignored have rallied up to 700% in 2016
A restaurant and hotel chain, a maker of decorative tubes and industrial pipes and a small and medium enterprise from (SME) in wind sector have emerged among the top five performers among the newly-listed stocks this calendar. These SME stocks on BSE managed to beat BSE debutants in the general c…
Artoo makes it easier to lend to small businesses
Mumbai, October 17:Capturing reliable data about small and micro business borrowers at the field level has often proved a big challenge for lenders. The process is generally manual, lengthy, paper-oriented, prone to errors at the primary stage and again, at the data entry point at the back office…
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…
Ujjivan expects modest growth on way to becoming a small bank
Bengaluru-based Micro Finance Institution Ujjivan Financial Services, which will hit the primary market on April 28 with a Rs 900-crore IPO, expects moderate growth in the next couple of years as it transitions into a small finance bank. “The RBI has told us for the first two years that we …