RBI Grants Licence to Unity Small Finance Bank

On 12th October, 2021, the Reserve Bank of India granted a Small Finance Bank (SFB) license to the Unity Small Finance Bank (USFBL), an equal joint venture between Centrum Financial Services and BharatPe.

  • The bank will now take over the assets and liabilities of Punjab & Maharashtra Cooperative Bank Ltd.
  • Centrum Financial Services will hold 50.1% stake, while BharatPe will hold 49.9% in the small finance bank.

Small Finance Banks

Reserve Bank of India (RBI) on September 15, 2016 granted in-principle licence for small finance banks to ten entities. As of December 2021, there are 12 ....

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