Utkarsh Small Finance Bank continues to expand its presence! Launches its 900th Banking Outlet. At Khunti, Ranchi, Jharkhand.

Highlights:

• Yet another milestone achieved with the launch of its 900th banking outlet at Khunti, Ranchi, Jharkhand
• Opened 7 banking outlets today across Bihar, Jharkhand and Uttar Pradesh
• Extending banking facilities including micro banking loan facilities through the JLG model, to low-income individuals in these regions
• Offering a range of financial products and services to support residents and entrepreneurs in their financial growth

Mumbai: Utkarsh Small Finance Bank Limited (Utkarsh SFBL) proudly announces the inauguration of 900th outlet of the Bank at Khunti, Ranchi, Jharkhand. This milestone is part of a broader expansion, which includes 7 new outlets launched today across Bihar,Jharkhand and UttarPradesh. With this, the Bank now operates 81 banking outlets in Jharkhand and a total of 903 outlets nationwide.

Customers in Khunti, Ranchi will now have access to a wide range of the Bank’s products and services. These include savings accounts, current accounts, fixed deposits, recurring deposits, and various loan products such as housing loans, business loans, loans against property, credit, insurance, and investment products. The Bank’s extensive infrastructure, digital banking capabilities, and ATM network aim to provide integrated customer service.

Commenting on the expansion, Mr. Govind Singh, MD & CEO of Utkarsh Small Finance Bank Limited,“Today is a landmark day for us as we inaugurate our 900th banking outlet of the Bank at Khunti, Ranchi, Jharkhand. Jharkhand is a significant state for us, and the inauguration of our 7 new banking outlets across Bihar, Jharkhand and Uttar Pradesh further reinforces our commitment to these regions. Our new banking outlets will not only foster local entrepreneurship but would also provide essential resources to strengthen the financial resilience to enhance the livelihoods of these entrepreneurs and individuals alike”.

These banking outlets will offer micro-banking loans for business development services to underprivileged or low-income individuals or groups who have limited access to financial services. The JLG model of group lending involves a peer-guarantee loan model, enabling individuals to take loans without providing collateral or security on an individual basis, while promoting credit discipline through mutual support within the group and prompt repayment of their loans. These loans aim to give the required capital to expand your business. Utkarsh Small Finance Bank offers Micro banking JLG loan products that are tailor made to suit the individuals to kick-start their entrepreneurial journey. This helps the individual start, build or expand their entrepreneurial journey seamlessly.

Customers can access banking services through various channels such as Banking Outlets, Micro ATMs (during banking hours), Internet banking, Mobile banking, Unified Payment Interface (UPI), and the Call Centre.

Additionally, the Bank provides facilities for customers to open a bank account without visiting the banking outlet through the tablet-based application-assisted model, “Digi On-Boarding”.