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Ujjivan Small Finance Bank
Small finance bank headquartered in Bangalore, India From Wikipedia, the free encyclopedia
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Ujjivan Small Finance Bank Limited is an Indian small finance bank based in Bengaluru, which commenced operations on 1 February 2017.[6][7] Licensed under Section 22 (1) of the Banking Regulation Act, 1949, it received Scheduled Bank status from the Reserve Bank of India in August 2017.[8][9]
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Ujjivan Small Finance Bank was established to serve to the unserved and underserved segments of the population through financial and digital inclusion. It offers savings accounts, deposit accounts, and a variety of loans, including microloans, housing loans, and vehicle loans.
Its Initial Public Offering (IPO) was launched on 12 December 2019, and was subscribed more than 165 times.[10]
As of 30 September 2025, the bank has a network of 766 branches spread across 334 districts and 26 states and union territories in India.[11]
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History
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Ujjivan Financial Services was founded in 2005 by Samit Ghosh, who previously worked with Citibank, Standard Chartered Bank, and HDFC Bank. The company began operations as a Non-Banking Financial Company (NBFC). [12] On 7 October 2015, Ujjivan Financial Services received an in-principle approval from the Reserve Bank of India (RBI) to set up a Small Finance Bank (SFB).[13][14] At that time, the company served over 2.6 million customers across 464 branches in 24 states. [15]
Ujjivan received its final banking license from the RBI on 11 November 2016, and Ujjivan Small Finance Bank commenced operations in February 2017.[16][17] In April 2017, the bank stated that it intended to convert all NBFC branches to SFB branches by the 2020 financial year.[18]
In October 2019, Ujjivan Small Finance Bank received approval from the Securities and Exchange Board of India to raise ₹1,200 crores (US$162 million) in an initial public offering (IPO).[19][20] The IPO opened on 2 December 2019 and was reportedly oversubscribed 166 times. The bank’s shares were listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on 12 December 2019.[21][22]
In 2022, the board of Ujjivan Financial Services approved the reverse merger of itself into Ujjivan Small Finance Bank.[23][24]
In 2024, Ujjivan Small Finance Bank received an Authorised Dealer Category 1(AD–I) Licence from the RBI, enabling it to provide foreign exchange services.[25]
In 2025, Ujjivan Small Finance Bank applied to the RBI for a universal banking licence.[26]
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Services
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Ujjivan Small Finance Bank offers various products including savings account, current account, fixed deposits and recurring deposits. It also provides secured and unsecured lending products such as vehicle loan, gold loan, agri and allied loans, Micro, Small and Medium Enterprise (MSME) loans, home and micro-mortgage loans and microfinance loan.
In addition to banking services, the bank enables access to government insurance schemes, including the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), along with other life, health, and general insurance options aimed at improving financial inclusion.[27][28] It also offers digital services such as internet banking, phone banking, and mobile banking, as well as NRI and Forex services.
The bank has deployed ATMs equipped with multilingual user interfaces and braille enabled keypads.[29] New customer accounts can be opened using Aadhar-enabled KYC verification through handheld devices.[30]
The bank introduced Hello Ujjivan, described as India's first voice-visual-vernacular banking app, for customers with limited reading and writing skills.[31] The bank is also among the participants in the Unified Lending Interface (ULI) initiative developed by the Reserve Bank Innovation Hub (RBIH).[32]
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