Utkarsh Small Finance Bank Limited (Utkarsh SFBL) has inaugurated its 900th outlet in Khunti, Ranchi, Jharkhand. This milestone is part of a broader expansion, which includes 7 new outlets launched today across Bihar, Jharkhand and Uttar Pradesh. With this, the Bank now operates 81 banking outlets in Jharkhand and a total of 903 outlets nationwide.
The Bank has expanded its product and service offerings to customers in Khunti, Ranchi. These include various types of accounts, including savings, current, fixed, recurring, and loan products like housing, business, property, credit, insurance, and investment products. The Bank’s extensive infrastructure, digital banking capabilities, and ATM network aim to provide integrated customer service. Utkarsh Small Finance Bank is offering micro-banking loans for business development services to underprivileged individuals or groups with limited access to financial services.
The JLG model of group lending allows individuals to take loans without collateral, promoting credit discipline through mutual support and prompt repayment. Commenting on the expansion, Mr. Govind Singh, MD & CEO of Utkarsh Small Finance Bank Limited, “Our new banking outlets will not only foster local entrepreneurship but would also provide essential resources to strengthen the financial resilience to enhance the livelihoods of these entrepreneurs and individuals alike”.
