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The small finance bank status provided the opportunity to expand Ujjivan's range of loan products, and also to accept deposits rather than relying on other financial institutions to provide funds for the loans. [10] Ujjivan received the final license from the Reserve Bank of India on 11 November 2016 to set up a small finance bank. [11]
Small finance banks (SFB) are a type of niche banks in India.Banks with a SFB license can provide basic banking service of acceptance of deposits and lending.The aim behind these is to provide financial inclusion to sections of the economy not being served by other banks, such as small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
Samit Ghosh is the founder of Ujjivan Financial Services Limited, and was its managing director and chief executive officer until 31 January 2017, when he accepted an equivalent role with subsidiary Ujjivan Small Finance Bank. [1] Prior to 2004, he held positions at Citibank, Standard Chartered, and HDFC Bank. He was CEO of Ujjivan Financial ...
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All India Financial Institutions (AIFI) is a group composed of financial regulatory bodies that play a pivotal role in the financial markets.Also known as "financial instruments", the financial institutions assist in the proper allocation of resources, sourcing from businesses that have a surplus and distributing to others who have deficits - this also assists with ensuring the continued ...
The ET Money secured 2.5 million app downloads in 2017. [2] It processed over 2 crore investment orders and registered a ₹ 500 crore sales in the mutual fund within two years of its launch. It had more than 4 million users on its app, as reported in 2018. [3] It currently has more than 5 million app downloads on the Google Play store as of ...
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