You are here: Home » Finance » News » Banks

India Post Payments Bank readies for competition

ATM cash withdrawal limit eased further

Business Standard

Suryoday rasing Rs 100 crore through rights issue

For savings account deposits up to Rs 1 lakh, the rate of interest would be 6.25%

Topics
Suryoday Small Finance Bank

Anup Roy  |  Mumbai 


Suryoday Small Finance Bank, which started operations on Monday, is in the process of raising Rs 100 crore through a rights issue to its investors, hoping to take its net worth to Rs 450 crore. Once an SFB reaches net worth of Rs 500 crore, it is mandatory to list within three years, which the bank hopes can be done by 2020.

Suryoday is offering a steep 7.25 per cent interest on savings accounts with deposits of more than Rs one lakh. For savings account deposits up to Rs 1 lakh, the rate of interest would be 6.25 per cent. Besides, the bank would offer steep interest rate ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.


We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, January 31 2017. 02:08 IST

.