Utkarsh Finance Bank

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Home About us Utkarsh journey

Utkarsh's journey

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

  • Commenced journey from Varanasi as a Micro Finance Institution (MFI), with 4 branches, Client base of 8,000 and Outstanding Portfolio 6.3 crore

  • Expanded operations to the State of Bihar.

  • Launched the Micro Enterprises Loan Product.
  • Expanded operations in Uttarakhand and Madhya Pradesh
  • ‘Microfinance India Organisation of the Year (Small & Medium Category) Award’ in 2012

  • Expanded in new districts of Bihar, Madhya Pradesh, Uttarakhand and Uttar Pradesh
  • Started National Pension System (NPS) services.
  • Mix STAR (Socially Transparent And Responsible) Award 2013

  • Expanded in Maharashtra
  • Started operations through mobile technology
  • RBI upgraded licence to NBFC-MFI from NBFC-LC

  • Outstanding portfolio increased to 728 crore
  • Won Seal of Transparency Award
  • CIMSME Award - MSME Banking Excellence Award – 2015

  • Received RBI’s in-principle approval to start operations as a Small Finance Bank
  • Expanded operations to Chhattisgarh and Jharkhand
  • Launched the Affordable Housing Loan vertical
  • Received Smart Campaign Client Protection Certification

  • Received final RBI licence to start full-fledged banking operations
  • Expanded to Haryana, Himachal Pradesh and NCT of Delhi
  • Utkarsh Welfare Foundation became a group entity
  • Skoch Award (Gold) – 2016 for Inclusive Insurance

  • Received Scheduled Commercial Bank status
  • Started Wholesale Lending business
  • Expanded operations to West Bengal

  • Launched cashless disbursements for Micro Finance Loans
  • Name of Utkarsh Micro Finance Limited changed to Utkarsh CoreInvest Limited and licence changed from ‘NBFC-MFI-ND-SI’ to ‘NBFC-CIC-ND-SI’
  • Received Excellence Award in Mine India Microfinance and NBFCs exhibition cum conference.

  • Expanded operations to Assam, Chandigarh, Gujarat, Odisha, Rajasthan and Telangana
  • Launched Vehicle Loans for Micro Banking customers
  • Outstanding Loan portfolio crossed 6,600 crore
  • Expanded operations with 27 lakh customers and 507 Branches
  • Utkarsh completed a decade as a Financial Services Provider on September 21, 2019
  • Short-term rating upgraded to ICRA A1+ from ICRA A1 for Certificate of Deposit.

  • 543 Banking outlets in 16 states and 2 union territories as on February 14, 2021.