Utkarsh Small Finance Bank extend its footprints to Kolkata by Launching its Branch in Salt Lake on February 06, 2018

Kolkata – February 06, 2018: Utkarsh Small Finance Bank (USFB) is launching its banking
services in the state of West Bengal with its branch at Salt Lake in Kolkata. With this
launch in West Bengal, Utkarsh now has banking operations in 11 States of the country.
Recently, Utkarsh celebrated its 1st Anniversary of banking services on January 23, 2018.
Utkarsh has now 48 General Banking Branches, 82 Micro Banking Branches and 270
Micro Finance Outlets, operating out of 111 districts of 11 States pan India.
Utkarsh started its banking operations in January, 2017 post receiving the final licence
from Reserve Bank of India (RBI). Hitherto, Utkarsh was operating as a Micro Finance
Institution (NBFC – MFI licence) with 374 Branches pan India. Utkarsh is now a Scheduled
Commercial Bank having received the scheduled status on 04 November, 2017.
Commenting on the inauguration of the branch, Mr. Govind Singh, MD & CEO, Utkarsh
Small Finance Bank said, “We are pleased to expand our footprints in West Bengal and
the city of Kolkata with the launch of our branch in Salt Lake. This launch is aligned with
the Bank’s strategy to extend its reach and offer entire gamut of financial services
including savings bank, current account, fixed deposits, loans, credit, insurance,
investment products to customers across our network. As we expand into newer
geographies to serve the local populace, we look forward to bring up a whole new world
of convenience banking with technology based solutions for providing optimal solutions
to customers.”
The branches will provide the full range of banking services ranging from savings &
current accounts, fixed and recurring deposits, microcredit, retail loan products,
insurance and investment products. The customers can access banking through multiple
channels like branches, 24*7 ATM, Internet banking, Mobile banking and Call Centre.
Bank has already started upgrading its existing Micro Finance Outlets into Micro Banking
Branches which will offer basic banking services like savings and current accounts, fixed
and recurring deposits, loans, insurance and other banking services.
About Utkarsh Small Finance Bank
‘Utkarsh Small Finance Bank Ltd.’ is a Schedule Commercial Bank registered with
Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949, licence
MUM No. 125 dated November 25, 2016.
Utkarsh Micro Finance is the promoting company for Utkarsh Small Finance Bank.
Utkarsh Micro Finance started its operations way back in September 2009 to provide
financial and non-financial services in its area of operations to the unbanked population
who have the skill but are in need of capital. Initially, it started with credit under Joint
Liability Group (JLG) model and also offered Micro Enterprises Loans and Micro Pension
Products.
Headquartered at Varanasi, Uttar Pradesh has operations in Uttar Pradesh, Bihar,
Jharkhand, Maharashtra, Madhya Pradesh, Chhattisgarh, Delhi-NCR, Uttarakhand,
Haryana and Himachal Pradesh. The latest addition is the state of West Bengal.
The CSR initiatives with ‘Utkarsh Welfare Foundation’ (a section 25 company) focuses on
Education (Financial Awareness) and Health (Poly Clinics with Mobile Van) activities. It
also undertakes Vocational Training with market linkage and organizes Blood Donation
Camps, support orphanages and elderly homes as goodwill gesture.
Utkarsh is committed to provide suitable products and services to bring transformational
changes in the livelihood of the underprivileged.
The current outreach of Utkarsh is:
 Over 15 lakh active customers.
 111 districts of 11 states
 400+ banking outlets with over 4,800 employees.
 Loans & advances portfolio is over ₹2,700 crore.
 Deposit base is over ₹1,500 crore.



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