Utkarsh's journey

From a Micro Finance Institution (NBFC-MFI) to a Small Finance Bank (SFB)

  • First Loan disbursed on Sep 21, 2009.
  • Client base of more than 8,000 in Uttar Pradesh.

  • Expanded outreach in Bihar.
  • Client base of more than 55,000.

  • Expanded outreach in Uttarakhand and Madhya Pradesh.
  • Launched the second loan product - Micro Enterprise Loan.
  • Client base of more than 1.06 lakh.

  • Expanded in new districts of Uttar Pradesh, Bihar, Uttarakhand and Madhya Pradesh.
  • Started National Pension System Services.
  • Client base of more than 1.97 lakh.
  • Received Microfinance India Organization of the Year (Small and Medium Category) Award.

  • Expanded in the region of Maharashtra.
  • Started operating through Mobile Technology.
  • Upgraded RBI Licence to NBFC-MFI.
  • Client base of more than 3.00 lakh.
  • Received Mix STAR (Socially Transparent And Responsible) Award.

  • Further expanded outreach in existing States.
  • Client base of more than 6.00 lakh.
  • Received Smart Campaign Client Protection Certification.

  • Expanded in the region of Chhattisgarh and Jharkhand.
  • Started Pilot of Affordable Housing Loan Product.
  • Client base of more than 8.50 lakh.
  • Grading upgraded to M1 (Highest) from M2+ by ICRA Ltd.
  • Received in - principle licence for Small Finance Bank from RBI.
  • Received CIMSME's MSME Banking Excellence Award.

  • Outreach spread to 110 Districts of 10 States.
  • Client base of more than 11.70 lakh.
  • CARE assigned Rating of A (A stable) on Bank Loan Rating.
  • Received Final Licence for Small Finance Bank from RBI.
  • Commencement of Banking Operations on January 23, 2017.
  • Received Skoch (Gold) — 2016 Award for Inclusive Insurance.

  • Launch of full Banking Services by honourable Prime Minister.
  • Received Scheduled Status.
  • Started operations through Core Banking Solution.
  • Started Wholesale Lending Business.
  • Client base of more than 13 lakh.
  • Current Outreach - Over 400 Banking Outlets.