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Title : Ujjivan Small Finance Bank is to open its first set of branches for public transaction today Monday Feb 06,2017
link : Ujjivan Small Finance Bank is to open its first set of branches for public transaction today Monday Feb 06,2017

Ujjivan Small Finance Bank is to open its first set of branches for public transaction today Monday Feb 06,2017

Ujjivan Small Finance Bank is to open its first set of branches for public transaction today. 

The bank, backed by the UK’s CDC Group, will roll out its branch network across the country from next fiscal. 

The company, which raised ₹887 crore in an IPO last year, has planned a soft launch with five branches in Bengaluru as a pilot.

Note

According to the RBI, the objectives of setting up small finance banks are to further financial inclusion by providing savings vehicles, and supplying of credit to small business units, small and marginal farmers, micro and small industries, and other unorganised sector entities through high-technology, low-cost operations.

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