Small Finance Banks in India with its Headquarters
List of Small Finance Banks in India. Small Finance Banks List. Small Finance Banks in India PDF. List of Small Finance Banks in India in Hindi. Small Finance Banks in India with their Headquarters, Name of Chairman & Taglines. If you are preparing for Banking & Insurance Exams, you will come across a section on Banking and Finance Awareness Section. Here we are providing you the Important Information about Small Finance Banks along with their Headquarters and Its Heads.
This “List of Small Finance Banks with its Headquarters (HQ)” is also important for other banking exams such as i.e. IBPS PO/Clerk, SBI PO/Clerk, RBI Grade B, NABARD Grade A& B, and other competitive Examinations.
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. Their work is to supply credit to small farmers, micro and small industries, and other unorganized sector entities through high technology-low-cost operations.
List of Small Finance Banks in India
Small Finance Banks with its Headquarters (HQ)
|Name of the Small Financial bank||Headquarters||Key People||Tagline|
|Au Small Finance Bank Limited(AU BANK)||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’|
|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||Nitin Chugh (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 Finance Bank
- 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.
- 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.
- 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.
- Maximum loan size to a single person cannot exceed 10% of total capital funds; cannot exceed 15% in the case of a
- 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.
Difference between Small Finance Bank & Payment Banks
- Small Finance Bank can accept deposits as well as can offer loan products
- Small banks can accept fixed deposits (FDs), term deposits, recurring deposits (RDs) and any non-resident Indian deposits.
- Small Finance Banks will provide banking services to small farmers, micro and small industries, the unorganized sector.
- Payments banks can open small savings accounts and accept deposits of up to Rs.1 lakh per individual.
- Payments banks can issue debit cards but they are not eligible to provide credit card facilities.
- Payments Banks are allowed to set up their own ATMs (automated teller machines).
- Payments Bank cannot lend money to the people.
- Payments banks can’t accept fixed deposits (FDs), term deposits, recurring deposits (RDs) and any non-resident Indian deposits.
- Payment Banks will provide banking services to migrant labor workforce, low-income households, small businesses, other unorganized sector entities and other users.