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Small Finance Banks in India
India has a big share of the population, which is away from primary banking facilities. There are rules and regulations regarding finance available to common people. To provide finance to many sectors, the small finance banks in India are established. Small finance banks can provide financial service to people like providing lending and depositing money of people.
Many small business holders or people not having credit facilities can avail banking credit by these small finance banks. Small finance banks provide lending facilities to SMEs, unorganized sector, Small Industries, Shop holders, Small business holders.
They are working with High level of technologies. Even Banks like Equitas Small Finance bank open Bank account digitally via mobile application. You can Open Equitas Bank Zero Balance Account in 5 Minutes.
The small finance Banks in India are increasing their Bank Branches more rapidly then Private Sector Banks. There are total 11 Small Finance Banks in India. (Januaey 2023)
Small Finance Banks in India
Listed of Small Finance Banks in India
Only 4 Small Finance Banks in India are stock market listed Banks. All the small Finance Banks operating in India are listed companies. They are registered under RBI. Only Selected small finance Banks are available for Stock market investments.
The BSE Listed small finance Banks are AU Small Finance Bank, Equitas Small finance Bank, Ujjivan Small Finance Bank, Suryoday Small Finance Bank. The Small finance Banks in India classified as private banks in India.
SFBS In India are one of developing sector in financial industries. According to RBI report, Tamil Nadu has highest Small finance Bank branches in India. (January 2021). The Reserve Bank of India Listed Small Finance Banks are
- Au Small Finance Bank Ltd.
- Capital Small Finance Bank Ltd
- Fincare Small Finance Bank Ltd.
- Equitas Small Finance Bank Ltd
- ESAF Small Finance Bank Ltd.
- Suryoday Small Finance Bank Ltd.
- Ujjivan Small Finance Bank Ltd.
- Utkarsh Small Finance Bank Ltd.
- North East Small finance Bank Ltd
- Jana Small Finance Bank Ltd
- Shivalik Small Finance Bank Ltd
New list of SFBs in India
The Total Number of Small Finance Banks in India stood at 11.
Read Also : Top Private Banks in India
List of Small Finance Bank
Below is a list for Small Finance Banks In India. Currently, a total 11 small finance banks are operating in India (July 2021). The SBFC in India are financial sector’s experienced players. They provide credit assistance to MSME, small business man.
small Finance banks in india
01. Au Small Finance Bank Ltd.
The AU small fin Bank was established on 19 April 2017. Its headquarter is In Jaipur. It was founded as vehicle finance company. Mr. Sanjay Agarwal is the MD & CEO of AU Small Finance Bank.
The AU Small Finance Bank is scheduled Bank. AU small finance Bank is listed company in BSE and NSE. If you want to become investor for AU Small fin Bank they you can invest in it. It was founded as AU Financiers. They focus more on AUTO sector more. It was working as NBFC earlier. The AU Net Banking provided to its customer for digital service.
The AU Small finance Bank RTGS and NEFT form used for third party financial transaction. You can download it via https://insuregrams.com/au-bank-rtgs-neft-form-pdf-download
Au small finance bank
02. Capital Small Finance Bank Ltd
Capital Small Finance Bank Limited started operations as India’s 1st Small Finance Banks in India. They started operations from April 24, 2016 as SFBs in India.. It was earlier operating as Capital Local Area Bank. It was largest area local bank before converting to Small Finance bank.
Interestingly, The Capital Small Finance Bank introduced 7-Day branch banking with extended banking hours since its first day of operations. They are working as Scheduled Bank in India. If you are customer of Capital bank then contact Capital Small Finance Bank Customer Care Number for any help.
capital small finance bank
03. Fincare Small Finance Bank Ltd
Fincare Small Finance Bank offers smart banking, highest interest rate up to 7% on saving up to 9% on fixed deposit. The company has registered offices in Bangalore, Karnataka.
The official website of Fincare Bank is https://www.fincarebank.com. Fincare Bank provide
one of the best FD rates in the industries.
04. Equitas Small Finance Bank Ltd
Equitas Small Finance Bank is a small finance bank founded in 2007 by Equitas as a microfinance lender, with headquarters in Chennai, India. After receiving the license from the Reserve Bank of India on 30 June 2016, Equitas Bank started banking operations from 5 September 2016 as a subsidiary of holding company Equitas Holdings Ltd.
The official website of Equitas Small Finance Bank is https://www.equitasbank.com. If you are new customer of Equitas Bank then you can register for Equitas Net Banking. Also the Equitas Mobile Banking Official Application is available for retail customers.
05. ESAF Small Finance Bank Ltd
ESAF Small Finance Bank is an Indian small finance bank. They provide banking services and small loans to the underbanked. It was earlier working as NGO in 1992 as Evangelical Social Action Forum.
The official website of ESAF Small finance Bank is https://www.esafbank.com. The Bank provide digital service like Net Banking, Mobile application. They provide Gold Loan at attractive Rates. If you are customer of EASF Bank then ESAF Bank Customer Care Number, Balance Check Number will help you anytime.
06. Suryoday Small Finance Bank Ltd
Suryoday Small Finance Bank Ltd is providing banking services in India. The Bank offers saving and current accounts, debit cards, fixed and recurring deposits, and loan facilities. Suryoday Small Finance Bank serves customers in India.
The Suryoday Bank Net Banking facility useful for accessing digital facilities at home. The Bank also provide Suryoday Small Finance Bank Contact Number for Balance Check.
07. Ujjivan Small Finance Bank Ltd
The holding company of Ujjivan small finance bank ltd is Ujjivan Financial Services Limited. The bank started operations on 1 February 2017. It provides a range of products and services such as savings account, current account, fixed deposits, recurring deposits, Micro Loans, Home Loans & Small Business Loans
The Ujjivan Small Finance Bank provide attractive RD and FD rates in Banking Industry. You can use Ujjivan Net Banking for quick Balance check, account statement, open term deposits. Contact Ujjivan Bank Customer Care Number Toll Free for any difficulties.
08. Utkarsh Small Finance Bank Ltd
The official website of Utkarsh Small Finance Bank is https://www.utkarsh.bank. The Bank provide Standard Savings Account, Premium Savings Account, Gen-Nex Savings Account, Corporate Salary Account, Basic Savings Bank Deposit Account (BSBDA) to its customers.
They Provide Mobile Banking and Net Banking Facilities to its customers. The Utkarsh Small Finance Bank was microfinance firm earlier. The official Email ID of Bank is communications@utkarsh.bank.
09. North East Small Finance Bank Ltd
The North East Small Finance Bank was operating RGVN (North East) Micro Finance Limited. They were experienced players of Micro Finance Industries. They are most active in Assam, Arunachal Pradesh, Meghalaya, Nagaland, Tripura, West Bengal and Sikkim state.
The Head office of NE Small Finance Bank situated in 1st & 3rd Floor, Fortune Central , Basisthapur, Bye lane 3, Beltola Guwahati, Assam 781028.
10. Jana Small Finance Bank Ltd
The Jana Small Finance Bank known for high FD rates. The official website of Jana Bank is https://www.janabank.com. Now, they are operating as scheduled Bank in India. Earlier They were operating as Urban Micro Finance organization.
In 2017, They Jana Small Finance Bank started operation as SFB. They launched gold Loan. in 2017. They are offering Savings Account, Current Account, Deposits, Loans, Insurance, Online Banking, Payments, Cards to its customers.
11. Shivalik Small Finance Bank Ltd
The Shivalik Small Finance Bank offering Mobile Banking, Net Banking, SMS Banking, Deposits, Term Deposits to its customers. They are first UCB to receive a commercial banking license as a Small Finance Bank.
From 1 January, 2021, They started their operation as small Finance Bank. They are providing service in Uttar Pradesh, Uttarakhand, Delhi, Madhya Pradesh. The Newest small Finance Banks in India is Shivalik Small Finance Bank.
Conclusion
Small Finance Banks have witnessed a rapid growth in their branch network and asset base while maintaining a healthy asset quality. They are generating high return on assets. These banks are focusing more on Micro, Small and Medium Enterprises (MSMEs).
They are providing service to people with less credit access. The Small finance Banks in India operate as scheduled commercial Bank. The small finance Bank are competing well against commercial Banks and NBFCs. They are providing lucrative interest rate on Deposits. Also they are arming their sales team with good disbursements.
The Small Finance Banks in India providing financial assistance to Priority sectors in India. Like AU Small Finance Bank is leading creditor for Auto loan. Even AU Small Finance Bank compete with Banks and NBFCs to provide good IIR to the customer. In small commercial vehicle financing they maintained good market share.