List of Small Finance Banks with Complete Details

List of Small Finance Banks with Complete Details

Hello Aspirants,

We are providing here with some important list of small finance bank in India. These list will help you in upcoming IBPS, SSC and other competitive exams.

With a need of financial inclusion in the country, RBI and central government has taken many steps at different times. Taking a further step, RBI gave differentiated licenses for specific activities to new set of banks named Payment Banks and Small Banks.

With their coming, customers will have a variety of choices.

What is a Small Finance Bank?

Small Banks are physical banks whose aim is to provide basic banking products such as deposits and supply of credit, but in a limited area of operation. Small banks are expected to meet credit and remittance needs of small businesses, farmers, micro and small industries, unorganised sector ,low income households and migrant work force through high technology-low cost operations.

Name of the Small Financial bank

Head quarters

Key People

Tagline

Points to remember

Au Small Finance Bank Limited(AUBANK)

Jaipur, Rajasthan

Mr. Sanjay Agarwal(CEO & MD)

 ‘Chalo Aage Badhe’

Capital Lab Small Finance Bank

Jalandar ,Punjab

Sarvjit Singh Samra( MD)

Viswas se Vikas tak’

India’s first small finance bank

Equitas Small Finance Bank

Chennai, Tamilnadu

PN Vasudevan(CEO & MD)

Its Fun Banking’

ESAF Small Finance Bank

Thrissur , Kerala

K. Paul Thomas(CEO & MD) ,Raveendranathan Prabha(Chairman)

Joy of Banking’

FINCARE Small Finance Bank Limited(formed from Disha Microfin Limited)

Bengaluru , Karnataka

Rajeev Yadav(CEO & MD)

‘a new era in smartbanking begins’

Janalakshmi Small Finance Bank

Bengaluru , Karnataka

Ramesh Ramanathan(Chairman) , Ajay Kanwal (CEO)

Likho Apni Kahaani

North East Small Finance Bank(NESFB)-RGVN Micro Finance Ltd.

Guwahati , Assam

DEEP CHANDRA JOSHI( chairman) ,Rupali Kalita (MD )

Your Door step Banker’

Suryoday Small Finance Bank

Navi Mumbai

Mr. R Baskar Babu(CEO & MD)

A bank of smiles

Ujjivan Small Finance Bank

Bengaluru, Karnataka

Sunil Patel(chairman) , Samit Ghosh (CEO & MD)

We belive in your belief

Utkarsh Small Finance Bank

Varanasi , U.P

Govind Singh(CEO & MD)

Aapki Umeed Ka Khata’

Important features of Small Banks:

  • They can accept any deposit (savings, current, fixed deposits, recurring deposits) like commercial banks.
  • Unlike payment banks, small finance banks will be allowed to lend money also.
  • For the initial 3 years, prior approval will be required for branch expansion.
  • To give the feel of local bank, their area of operation will be restricted.
  • NBFC’s , any individual with 10 years of experience in banking can apply for licenses.
  • Their target are small businesses and MSMEs.
  • They are not allowed to lend the deposited money to big businesses or industries.

Some of the conditions for setting up Small Bank:

  • Minimum paid-up equity capital requirement of Rs 100 crore.
  • Every small finance bank must have the words “small finance bank” in its name.
  • They cannot set up subsidiaries to undertake non-banking financial service activities.
  • 75% of its Adjusted Net Bank Credit (ANBC) should be advanced to the priority sector as categorized by RBI.
  • Maximum loan size to a single person cannot exceed 10% of total capital funds; cannot exceed 15% in the case of a group.
  • At least 50% of its loans should constitute loans and advances of up to 25 lakh.
  • Small banks can undertake financial services like distribution of mutual fund units, insurance products, pension products, and so on, but not without prior approval from the RBI.
  • A small bank can transform into a full-fledged bank, but only after RBI’s approval.
  • A fundamental requirement is that it must have 25% of its branches set up in unbanked areas.

















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Post On 2019-11-12