Page 5 - Small Finance Banking

Microfinance loans grow 24% YoY in Q1 of FY23; credit quality stable

Fund flow to the sector has improved but some smaller MFIs still find it difficult to access finance from banks

Unity Small Finance Bank appoints Inderjit Camotra as MD and CEO

Unity Small Finance Bank is a new age, digital first bank which was recently elevated to a 'Scheduled Bank' and was included in the Second Schedule of the RBI Act.

No plan to pass interest rate hike to MFI customers: Suryoday SFB's Babu

R Baskar Babu, managing director & chief executive officer of Suryoday Small Finance Bank, tells Manojit Saha in an interview that the regulator wants these lenders to rebalance the portfolio

AU Small Finance Bank Q1 net up 32% YoY to Rs 268 cr, down 23% sequentially

Improvement in NII, even as trading losses weigh on profitability

AU Small Finance Bank to invest over Rs 500 cr for IT, digital makeover

Sanjay Agarwal, managing director and chief executive, said the lender was in a growth phase and is spending to achieve digital ambitions

RBI says 6 of 11 applicants found not suitable for bank permits: Full list

RBI announces decision on six of eleven pending applications for universal bank licence / small finance bank licence

RBI gives go-ahead to Equitas reverse merger plan with certain riders

Asks Equitas Holdings to divest shareholding in its subsidiary, Equitas Technologies, prior to the scheme taking effect

Over 50% PMC depositors have stayed with Unity: Centrum Group's Bindra

Unity Small Finance Bank's first leg of journey is integration: Bindra

AU Small Finance Bank looking at 30% asset growth for five years

AU Small Finance Bank plans to raise fresh equity capital in the current financial year depending on market conditions.

Unity Small Finance Bank pays Rs 3,800 cr to 850,000 PMC Bank depositors

According to the plan approved by the Union government, Unity Small Finance Bank was supposed to pay the insured deposit amount up to Rs 5 lakh received from the DICGC immediately.

Small finance banks seek an urgent extension of time limit for listing

These banks have cited the 'accepted recommendations 31 and 27' of the Reserve Bank of India's (RBI's) Internal Working Group (IWG) to buttress their request

Unity SFB not affected by BharatPe tussle: Centrum Capital's Jaspal Bindra

Jaspal Bindra says Centrum's partnership is with funds like Sequoia, not Grovers

Ujjivan Small Finance Bank seeks shareholders' nod to raise Rs 600 crore

The bank has already sought Sebi nod for a scheme of amalgamation to achieve the Minimum Public Shareholding (MPS)

West End Housing applies for small finance bank licence with RBI

Currently, there are about a dozen small finance banks in the country

Fino Payments not planning to turn into small finance bank 'right now': CEO

Company is only profitable payments bank and 'lot of things need to settle down first' for it to consider seeking a licence for conversion, says Rishi Gupta

Sahakar Bharati may seek tweaks in PMC Bank's draft merger scheme

Five-year interest holiday and final settlement at end of 10 years unfair to depositors

Ujjivan SFB stays in red, net loss widens in Q2 to Rs 274 cr sequentially

Provisions stay elevated in Q2; though lower than Q1

Utkarsh Small Finance Bank reports Rs 38 cr profit for Apr-Sept FY22

The bank on Monday reported nearly 52 per cent decline in net profit

Unity Small Finance Bank begins operations, paving way for merging PMC

Unity Small Finance Bank, the 51:49 joint venture between Centrum Group and payments app Bharatpe, on Monday launched their first branch that will go a long way in resolving the crippled cooperative PMC Bank by merging it with the new entity. Early evening, the Reserve Bank said Unity SFB began operations with the first branch going operational in the city. The 12th small finance bank begins operations with over Rs 1,100 crore of equity capital, over 2 lakh customers and an asset base of over Rs 2,400 crore which comes from the existing MSME and MFI credit business of the Centrum Group, Jaspal Bindra, group executive chairman and also the non-executive chairman of Unity Bank, told PTI on Monday. Unity Bank commenced operations in a record time as it got the final licence only on October 12 from the Reserve Bank, after getting the in-principal approval in June. The licence is also contingent on the Unity Bank taking over the crippled Punjab & Maharashtra Cooperative (PMC) Bank, ...

Capital Small Finance Bank files paperwork with Sebi to raise funds via IPO

The small finance bank (SFB) proposes to utilise net proceed from the fresh issue towards augmentation of the bank's Tier-I capital base to meet the future capital requirements