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Empowering Communities: The Utkarsh Small Finance Bank Story


Unlocking Opportunities for the Unbanked

In the heartlands of India, where the pulse of entrepreneurship beats strong, Utkarsh Small Finance Bank emerges as a beacon of hope and financial empowerment. Born from the vision of Utkarsh CoreInvest Limited, formerly known as Utkarsh Micro Finance Limited, the journey began in September 2009. With a mission to serve the unbanked, Utkarsh embarked on a path to provide financial and non-financial services to those with skills but lacking capital.

Evolution into a Small Finance Bank

As the years passed, Utkarsh Micro Finance expanded its offerings, moving beyond Joint Liability Group (JLG) credit to include Micro Enterprise Loans (MEL), Housing Loans, and Micro Pension Products. In a significant milestone, the Reserve Bank of India granted Utkarsh Micro Finance a license to establish a Small Finance Bank in FY 2016. Thus, ‘Utkarsh Small Finance Bank Limited’ was born, heralding a new era of financial inclusion.

Transition and Transformation

The transition from microfinance to a full-fledged bank was marked by meticulous planning and execution. Through a strategic slum sale, Utkarsh transferred its assets and liabilities to its subsidiary, Utkarsh Small Finance Bank Limited, ensuring compliance with regulatory requirements. On January 23, 2017, the subsidiary commenced banking operations, setting the stage for further growth and impact.

Vision and Mission: Driving Inclusive Growth

Utkarsh Small Finance Bank envisions becoming the most trusted, digitized bank, fostering financial and social inclusion while creating value across all strata of society. Anchored by a mission to be the preferred financial institution, Utkarsh strives to leverage technology-enabled solutions that are sustainable, inclusive, and scalable. This vision is supported by a work culture centered on passion, values, and corporate ethics, aimed at delivering a best-in-class customer experience.

Making Strides: Achievements in 2023

The year 2023 marked several milestones for Utkarsh Small Finance Bank, underscoring its commitment to innovation and service excellence. From surpassing 800,000 digitally onboarded customers to launching new products like ‘Utkarsh Gold Loan’ and ‘UPI-LITE’, the bank demonstrated agility and adaptability. Moreover, strategic partnerships with industry leaders like ICICI Securities Limited and accolades such as ICRA’s upgraded rating further solidified Utkarsh’s position in the financial landscape.

Meet the Minds Behind Utkarsh

At the helm of Utkarsh Small Finance Bank are visionary leaders dedicated to driving impact and fostering growth:

  • Mr. Govind Singh: With a wealth of experience in banking and finance, Mr. Singh leads the charge towards Utkarsh’s vision of inclusive banking.
  • Mr. Chandra Shekhar Thanvi: Bringing technical expertise and strategic insights, Mr. Thanvi represents the esteemed lender SIDBI on the bank’s board.
  • Mr. Ajay Kumar Kapur: With a background in engineering and extensive experience in financial services, Mr. Kapur’s guidance adds depth to Utkarsh’s board.
  • Mr. Parveen Kumar Gupta: Leveraging decades of experience in banking, Mr. Gupta provides invaluable leadership to Utkarsh’s governance framework.
  • Mr. G. S Sundararajan: With a rich background in financial services and social entrepreneurship, Mr. Sundararajan’s stewardship guides Utkarsh towards greater heights.
  • Mr. Atul: With a distinguished career in administrative services, Mr. Atul’s insights bolster Utkarsh’s governance framework.
  • Mr. Aditya Deepak Parekh: Drawing from his extensive experience in private equity and investment banking, Mr. Parekh brings strategic foresight to Utkarsh’s board.
  • Mr. Suman Saurabh: With a deep understanding of banking and microfinance, Mr. Saurabh spearheads Utkarsh’s operational excellence and customer-centric approach.

Driving Social Impact

Beyond financial performance, Utkarsh Small Finance Bank remains committed to its corporate social responsibility (CSR) initiatives. Through various programs and activities outlined in its CSR policy, the bank endeavors to make a meaningful difference in the communities it serves.

As Utkarsh Small Finance Bank continues to chart its course towards sustainable growth and social impact, it stands as a testament to the transformative power of inclusive banking. With a steadfast commitment to empowerment and innovation, Utkarsh paves the way for a more financially inclusive India.


Empower your startup or SME with expert guidance from Entrepreneur Educational Social Welfare Foundation Limited (EESWF). Connect with us for consultancy services at sharma.maayank@yahoo.com or call Bholanath Seth at +91 97550 31165.

Let’s pave the path to success together. Reach out to Mayank Sharma, President of EESWF and Editor at Bharatiya Media, or Bholanath Seth, Secretary General of EESWF and Business Head at BharatiyaMedia, for comprehensive support in realizing your business goals.”

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Mayank Sharma

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