Utkarsh Small Finance Bank Limited (Utkarsh SFBL) has announced the launch of its 900th banking outlet in Khunti, Ranchi, Jharkhand, marking a significant milestone in its expansion efforts. The bank also inaugurated seven new outlets across Bihar, Jharkhand, and Uttar Pradesh today, bringing its total number of branches to 903 nationwide.
The new outlets will provide a comprehensive range of financial products and services, including savings and current accounts, fixed and recurring deposits, various loan products, credit, insurance, and investment options. This expansion is set to bolster financial growth and support for residents and entrepreneurs in these regions.”Today is a landmark day for us as we inaugurate our 900th banking outlet,” said Mr. Govind Singh, MD & CEO of Utkarsh SFBL. “Jharkhand is a significant state for us, and our new outlets across Bihar, Jharkhand, and Uttar Pradesh reinforce our commitment to these regions. Our goal is to foster local entrepreneurship and provide essential resources to strengthen financial resilience.”
The new branches will also offer micro-banking loans using the Joint Liability Group (JLG) model. This peer-guarantee loan system enables low-income individuals to secure loans without collateral, promoting credit discipline and mutual support within the group. These loans are designed to help individuals start or expand their businesses, providing crucial capital to enhance their livelihoods.Utkarsh SFBL’s digital banking capabilities, including Internet and mobile banking, UPI, and a tablet-based application-assisted model, ensure customers can access banking services conveniently. The bank’s extensive infrastructure and ATM network further enhance customer service.
