Utkarsh Small Finance Bank Ltd
Utkarsh Small Finance Bank Ltd Company History
Utkarsh Small Finance Bank is a Small Finance Bank (‘SFB’) engaged in providing banking and financial services and governed by the Banking Regulation Act, 1949.(Source : 202303 Annual Report Page No:123)
2017
Commenced the banking operations
Launched the mobile banking and internet banking facilities
2017
2018
Launched the wholesale lending business and personal loans
Launched the asset business through business correspondents
The deposit base crossed Rs. 20,000 million
The gross advances crossed Rs. 30,000 million
Launched bancassurance business with partners
Increase in savings accounts and active loan clients to over 200,000 and 2,000,000 respectively
Launched bill payment services
2018
2019
Launched cashless disbursements for microfinance loans
Conversion of microfinance branches to Banking Outlets
2019
2020
The deposit base crossed Rs. 50,000 million
We crossed 500 banking outlets
Launched micro-banking business and two-wheeler loans
The customer base crossed 2.50 million
2020
2021
Launched digital on-boarding of accounts
Launched non-fund based facility and working capital loans
2021
2022
Opened branches in Andhra Pradesh, Tamil Nadu, Karnataka and Kerala
Launch of green PIN initiative at Micro ATMs as replacement for physical PIN mailers
Launch of white label payment gateway
Launch of collection current account and escrow bank account products
Launch of Utkarsh UPI application
We reached 686 banking outlets
Crossed one million debit card issuances
Appointed as corporate agent by Bharti AXA Life Insurance Company Limited, Kotak Mahindra General Insurance Company Limited and Aditya Birla Health Insurance Company Limited for soliciting insurance policies
Launched brown label ATM services
On-boarded Finnable Technologies Private Limited as a business correspondent
Launched Atal Pension Yojana at the Bank
The deposit base crossed Rs. 100,000 million
Shifting of registered office to Utkarsh Tower, NH Â 31 (Airport Road), Sehmalpur, Kazi Sarai, Harhua, Varanasi, 221 105, Uttar Pradesh, India, a property owned by the Bank
2022
2023
Crossed 800,000 customers on-boarded through digital onboarding
Launch of ÂUtkarsh Gold LoanÂ, a secured gold loan product
Launch of UPI-LITE Â on-device wallet functionality for UPI users
On-boarded Moneyboxx Finance Limited as a business correspondent
Appointed as corporate agent by Future Generali India Insurance Company Limited
Launch of facility for cashless disbursement of JLG loan to clients
Launch of facility for cashless collection of JLG loan instalments
Partnership with ICICI Securities Limited for 3-in-1 accounts comprising demat, online trading and savings account
Empanelment by Government of Chhattisgarh for deposit of government amounts in commercial banks
Empanelment by Government of Maharashtra for disbursement of salary and allowances to government employees and for providing pension to pensioners
2023
