Uttar Pradesh- April 10, 2018: Utkarsh Small Finance Bank (USFB) is expanding its
banking services in the state of Uttar Pradesh by launching its general banking branch at
Agra. With this launch, Utkarsh has now 15 general banking branches and 106 other
micro banking / micro finance outlets in the state of Uttar Pradesh.
Pan India, Utkarsh has now 53 General Banking Branches, 112 Micro Banking Branches
and 240 Micro Finance Outlets across 125 districts of 11 States severed through more
than 5,000 employees. The current loan portfolio outstanding is over ₹3,000 crores and
the total deposits base of the Bank is over ₹2,000 crores.
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 Uttar Pradesh with
launch of a new branch at new district Agra. The Bank plans to have over 100 general
banking branches by end of next financial year. Over and above this, the bank will also
have more than 380 Micro Banking branches by next financial year, providing basic
banking services like savings-current accounts, fixed and recurring deposits, loans,
insurance and other such banking services. The Banks has come up with its own network
of ATMs. The Bank has also plans of large number of employment generation by almost
doubling its current employee base of over 5,000.”
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 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.
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. USFB is now a Scheduled
Commercial Bank having received the scheduled status in November 2017.
Apart from banking services Utkarsh also provides Corporate Social Services through
Utkarsh Welfare Foundation which aims at providing financial awareness to thousands of
unserved people in the rural area.