By Reserve Bank of India
Equitas Holdings announced that the Reserve Bank of India has issued license on 30 June 2016 to Equitas Small Finance Bank to carry on the small finance bank (SFB) operations in India.On 16 June 2016, the High Court of Madras approved the amalgamation of Equitas Micro Finance and Equitas Housing Finance with Equitas Finance from the effective date i.e. the working day immediately preceding the date of commencement of business of SFB. On amalgamation coming into effect, Equitas Finance will be named as Equitas Small Finance Bank which will carry on business of Small Finance Bank.
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