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.
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List of Small Finance Banks in India
Below is a list for Small Finance Banks In India. Currently, a total 10 small finance banks are operating in India.
- Au Small Finance Bank Ltd. : It was established on 19 April 2017. Its headquarter is In Jaipur. It was founded as vehicle finance company. Today About. Mr. Sanjay Agarwal is the MD & CEO of AU Small Finance Bank
- Capital Small Finance Bank Ltd : Capital Small Finance Bank Limited started operations as India’s 1st Small Finance Bank on April 24, 2016. It was earlier operating as Capital Local Area Bank.
- Fincare Small Finance Bank Ltd.: Fincare Small Finance Bank offers smart banking, Highest interest rate upto 7% on saving & upto 9% on fixed deposit. The company has registered offices in Bangalore,Karnataka.
- 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 began banking on 5 September 2016 as a subsidiary of holding company Equitas Holdings Ltd.
- 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
- 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.
- 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.
- Utkarsh Small Finance Bank Ltd.
- North East Small Finance Bank Ltd
- Jana Small Finance Bank Ltd