Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Ujjivan Small Finance Bank Ltd (a wholly owned subsidiary of Ujjivan Financial Services Ltd) has got the final licence from the Reserve Bank of India to undertake small finance bank (SFB) business in India.
Ujjivan Small Finance Bank Ltd is expected to commence banking operations in the first-quarter of 2017 after receiving the necessary approvals, registrations and licensing from various departments of the RBI and other agencies.
Samit Ghosh, CEO and Managing Director, Ujjivan Financial Services Ltd, commenting on the development said, “the licence has taken Ujjivan a step closer to our mission of providing comprehensive financial inclusion to the segments we wish to serve. As a bank, we will now provide the full range of services to the un-banked and under-banked in the 24 States we operate in.”
“Our experience of functioning as an MFI for over a decade in the segments we have served will immensely benefit the future operations of Ujjivan Small Finance Bank Ltd. Currently, we are in the process of executing the final building blocks for the SFB and are testing our innovative technology, operations and mobility solutions created specifically for the SFB,” he added.
The approval comes at the backdrop of a profitable second quarter of FY 2016-17 results. Ujjivan reported 89.69 per cent increase in its profit to ₹73.01 crore for the quarter ended September 30, 2016 and a gross loan book growth of 58.65 per cent to ₹6,485.93 crore.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
Here is a checklist that equips you to discern the market nuances
Sensex, Nifty 50 have witnessed sharp decline
The fund has consistently outperformed S&P BSE 100 TRI over one, three and five years
Returns are superior to immediate annuity plans, but SCSS can secure better rates for new investors sooner if ...
With the public looking beyond mainstream media for reports from the ground, independent digital platforms are ...
The country hasn’t had a quiet moment since the military seized power on February 1
The Tatmadaw sees itself as an embodiment of the nationalist soul of Myanmar. But their brand of nationalism ...
While Supreme Court has cleared the way for women seeking longer tenures and senior roles in the Indian Army, ...
Its name is the starting point of a brand’s journey and can make a big difference in the success sweepstakes
Sober spirits are the in thing
A peek into where ad spends went last year and where they are headed tomorrow
Can Swiggy Instamart disrupt the ecommerce groceries space, currently ruled by the Amazons and Big Baskets? ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor