Business Standard

Gurugram-based Satin Creditcare to apply for on-tap small finance bank

SCNL is waiting for RBI to come out with its on-tap norms by end-August

On-tap licences for small finance banks to see many applicants this year
Premium

Raghu Mohan Mumba
Gurugram-based Satin Creditcare Network (SCNL) plans to set up a small finance bank (SFB), and is waiting for the Reserve Bank of India (RBI) to come out with its on-tap norms for such banks by end-August.

“We have 1,163 branches and a headcount of 11,831 across 22 states and Union territories serving 3.5 million clients and a strong presence throughout Uttar Pradesh, Bihar, the north-east, and Madhya Pradesh. We are well positioned to be an SFB,” said H P Singh, chairman and managing director of SCNL, a micro-finance institution (MFI). SCNL is the first MFI to publicly state that it

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 22 2019 | 9:53 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com