Utkarsh Small Finance Bank Limited expands its presence in Rajasthan

Jaipur, January, 2023.

Utkarsh Small Finance Bank Limited (USFBL), announced the inauguration of its banking outlet in the state of Rajasthan in the region of Jaipur. With this, the Bank offers its financial services through a network of 819 banking outlets in the country spread across 25 states and union territories.

The launch of these banking outlets is aligned with the Bank’s strategy to extend its reach and thereby offer an entire gamut of financial services to customers in new and existing geographies. This includes savings & current accounts, fixed & recurring deposits, loans, credit, insurance products and investment products to customers across the Bank’s network.

USFBL provides micro-banking loans for business development services to the underprivileged or low-income individuals or groups who have limited access to financial service through Joint Liability Group (JLG) model of group lending. The JLG model of group lending involves peer-guarantee loan model, which enables individuals to take loans without having to provide collateral or security on an individual basis.

The Bank in addition offers wholesale lending, micro, small and medium enterprises (“MSME”) loans, housing loans, loan against property, commercial vehicles and construction equipment loans and gold loans products to its customers

On the occasion, Shri. Govind Singh, MD & CEO, Utkarsh Small Finance Bank Limited said, “It is a momentous day for Utkarsh Small Finance Bank Limited as we expand our footprint across the country with 25 banking outlets. It gives the local community the opportunity to consider an option that not only helps in building their financial confidence, but also acts as an enabler for building an environment of employment, upskilling and a better livelihood”.

The customers of the Bank can access banking services through multiple channels such as branches, 24*7 ATMs, Internet banking, Mobile banking, Unified Payment Interface (UPI) and Call Centre. In addition, the Bank provides facility to customers for opening a bank account without having to visit the branch through the tablet-based application assisted model, “Digi On-Boarding”.