Ujjivan Small Finance Bank
An Indian small finance bank focused on extending formal banking and financial services to underserved households, workers, and small businesses.
Last updated August 31, 2026
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Overview
Ujjivan Small Finance Bank Limited is an Indian small finance bank headquartered in Bengaluru. It was established within the Ujjivan financial-services group after Ujjivan Financial Services received approval from the Reserve Bank of India to establish a small finance bank. The bank received its final banking licence in November 2016 and commenced operations on 1 February 2017. Its formation represented the transition of an established microfinance-oriented financial institution into a regulated bank able to accept deposits and offer a broader range of banking products. The institution’s business model is centered on financial inclusion. Its intended customer base includes low-income households, micro-enterprises, workers in the unorganized sector, and other customers who have historically had limited access to conventional banking. Its offering includes savings accounts, fixed or term deposits, microfinance and other small loans, loans for micro and small businesses, personal lending, insurance-related products, and wealth-management services. The bank’s legacy is closely connected with Ujjivan Financial Services, an NBFC founded in 2005 by Samit Ghosh. Before the banking transition, Ujjivan Financial Services had built a substantial customer and branch network serving financially underserved communities. Ujjivan Small Finance Bank received Scheduled Bank status from the RBI in August 2017. The bank subsequently pursued a public-market listing. In October 2019, it received approval from the Securities and Exchange Board of India for an initial public offering of up to ₹1,200 crore. The IPO opened in December 2019, and the bank’s shares were listed on the National Stock Exchange and the Bombay Stock Exchange on 12 December 2019. A significant structural change followed in the 2020s. In 2022, the board of Ujjivan Financial Services approved a reverse merger of the financial-services company into Ujjivan Small Finance Bank. Ujjivan Financial Services held a 73.5% stake in the bank before the transaction. The reverse merger was completed in 2024, after which Ujjivan Small Finance Bank became a fully publicly owned bank rather than a subsidiary controlled by the former holding company. The transaction simplified the group structure and consolidated the operating banking business in the listed bank. In 2024, the bank also received an Authorised Dealer Category I licence from the RBI, allowing it to provide foreign-exchange services. This expanded its regulatory permissions beyond its core domestic deposit and lending activities. As of December 2025, the bank had 777 branches, according to the referenced Wikipedia article. Its current identity therefore combines a financial-inclusion heritage, a nationwide Indian branch-based banking operation, public-company governance, and an expanding range of regulated banking and foreign-exchange services.
History
Ujjivan Small Finance Bank grew out of Ujjivan Financial Services, an Indian non-banking financial company founded in 2005 by Samit Ghosh. The earlier Ujjivan business concentrated on microfinance and services for customers who were underserved by conventional financial institutions. By the time Ujjivan received in-principle approval to create a small finance bank in October 2015, the group had more than 2.6 million customers and 464 branches in 24 Indian states. The Reserve Bank of India issued the bank’s final licence on 11 November 2016. Ujjivan Small Finance Bank began operations on 1 February 2017. The new bank was designed to broaden the group’s capabilities beyond its NBFC heritage by accepting deposits and providing a wider portfolio of regulated banking products. Its target segments included low-income households, micro-enterprises, unorganized-sector workers, and other customers with limited access to formal banking. In April 2017, Ujjivan stated that it intended to convert all NBFC branches into small finance bank branches by the 2020 financial year. The bank received Scheduled Bank status from the RBI in August 2017. The next major stage was the move into public markets. In October 2019, the Securities and Exchange Board of India approved an IPO of up to ₹1,200 crore. The offering opened on 2 December 2019, and the bank’s shares were listed on both the National Stock Exchange and the Bombay Stock Exchange on 12 December 2019. Listing gave the bank an independent public-market identity while it remained associated with Ujjivan Financial Services. The relationship between the two entities was later reorganized. In 2022, Ujjivan Financial Services approved a reverse merger into Ujjivan Small Finance Bank. Before the merger, Ujjivan Financial Services owned 73.5% of the bank. Completion of the transaction in 2024 resulted in a fully publicly owned Ujjivan Small Finance Bank and simplified the corporate structure by bringing the financial-services business into the listed banking entity. The bank also expanded its permitted activities in 2024 when it received an Authorised Dealer Category I licence from the Reserve Bank of India. The licence enabled it to offer foreign-exchange services, adding an international-finance capability to its domestic banking and financial-inclusion activities. As of December 2025, the referenced Wikipedia material reported that Ujjivan Small Finance Bank operated 777 branches. Its history is consequently defined by the institutional shift from microfinance-focused NBFC operations to small-finance-bank operations, public listing, corporate consolidation, and a gradual widening of regulatory permissions.
- 2025
Reported branch network reaches 777 branches
[1]The referenced Wikipedia material reported that the bank had 777 branches as of December 2025.
- 2024
Reverse merger completed
[1]Completion of the reverse merger made Ujjivan Small Finance Bank fully publicly owned.
- 2024
Authorised Dealer Category I licence
[1]The bank received an RBI Authorised Dealer Category I licence, allowing it to provide foreign-exchange services.
- 2022
Reverse-merger approval
[1]Ujjivan Financial Services approved a reverse merger into Ujjivan Small Finance Bank.
- 2019
Initial public offering
[1]The bank received approval for an IPO of up to ₹1,200 crore, opened the offering in December, and listed on the NSE and BSE on 12 December.
- 2017
Banking operations commence
[1]Ujjivan Small Finance Bank began operations on 1 February 2017.
- 2017
Scheduled Bank status
[1]The Reserve Bank of India granted the bank Scheduled Bank status in August 2017.
- 2016
Final banking licence
[1]Ujjivan received its final banking licence from the Reserve Bank of India on 11 November 2016.
- 2015
In-principle small-finance-bank approval
[1]The Reserve Bank of India granted Ujjivan Financial Services in-principle approval to establish a small finance bank.
- 2005
Ujjivan Financial Services is founded
[1]Samit Ghosh founded Ujjivan Financial Services as a non-banking financial company, establishing the institutional predecessor of the later bank.
Products and positioning
Financial inclusion and accessible banking for underserved households, workers, micro-enterprises, and small businesses in India.
Deposit banking · 2017
Savings accounts
Deposit accounts intended to give retail customers access to formal banking, transaction services, and savings facilities. They form part of the bank’s broader financial-inclusion proposition for households and customers who may have been underserved by traditional banks.
Deposit banking · 2017
Fixed and term deposits
Time-bound deposit products that allow customers to place funds with the bank for a defined period. They complement transactional savings accounts and broaden the bank’s deposit offering for retail customers.
Financial-inclusion lending
Microfinance loans
Small-scale lending associated with Ujjivan’s historical focus on low-income customers and underserved communities. The product area reflects the group’s origins as a microfinance-oriented NBFC and remains central to its financial-inclusion positioning.
Business banking
Micro and small business loans
Credit products for micro-enterprises and small businesses, including businesses operating in India’s informal or underserved economic segments. These loans extend the bank’s lending proposition beyond household finance into enterprise banking.
Retail lending
Personal loans
Retail credit products for individual customers. They sit alongside the bank’s microfinance and business-lending activities as part of its broader personal-banking portfolio.
Financial services
Insurance products
Insurance-related offerings distributed through the bank’s financial-services platform. They broaden the institution’s customer relationship beyond deposits and lending.
Wealth management
Wealth-management services
Wealth and investment-related services included in the bank’s stated product range. These services complement its retail banking and deposit businesses.
Foreign exchange · 2024
Foreign-exchange services
Foreign-exchange services enabled by the bank’s Authorised Dealer Category I licence from the Reserve Bank of India, granted in 2024.
Brand decisions
2024
Expansion into foreign-exchange servicesStrategyBackground
The bank sought to broaden its regulated service capabilities beyond domestic deposits and lending.
Action taken
The Reserve Bank of India granted Ujjivan Small Finance Bank an Authorised Dealer Category I licence.
Aftermath
The licence enabled the bank to provide foreign-exchange services.
2022
Reverse merger of Ujjivan Financial ServicesM&ABackground
Ujjivan Financial Services was the former holding company and majority shareholder of Ujjivan Small Finance Bank, owning 73.5% before the restructuring.
Action taken
The board approved a reverse merger under which Ujjivan Financial Services would merge into Ujjivan Small Finance Bank.
Aftermath
The transaction was completed in 2024 and resulted in a fully publicly owned bank with a consolidated corporate structure.
Pre-merger ownership stake held by Ujjivan Financial Services. 73.5% (Before completion of the reverse merger)
2019
Public-market listingOtherBackground
Ujjivan Small Finance Bank sought access to public equity markets after establishing its banking operations and receiving Scheduled Bank status.
Action taken
The bank proceeded with an IPO of up to ₹1,200 crore and listed its shares on the NSE and BSE in December 2019.
Aftermath
The listing made the bank a publicly traded Indian banking institution.
Approved IPO size. ₹1,200 crore (October 2019 approval)
2017
Conversion of legacy NBFC branches into bank branchesStrategyBackground
After beginning small-finance-bank operations, Ujjivan needed to transition its established NBFC network into the new banking structure.
Action taken
The bank stated in April 2017 that it intended to convert all NBFC branches into small finance bank branches by the 2020 financial year.
Aftermath
The plan represented the operational integration of Ujjivan’s microfinance heritage into its regulated banking platform.
Recent events
Reported
RBI appoints additional director to Ujjivan Small Finance Bank board[3]
The Reserve Bank of India appointed P N Raghunath as an additional director on Ujjivan Small Finance Bank's board for two years, effective November 29, 2021, or until further orders, whichever is earlier.
Reported
Decimal Technologies and Ujjivan Small Finance Bank partner on digital lending[4]
Decimal Technologies and Ujjivan Small Finance Bank entered into a partnership under which the bank and its channel partners will use Decimal's Saarathi digital lending platform to digitize loan sourcing and origination.
Reported
Ujjivan Small Finance Bank launches Garima Savings Account[5]
Ujjivan Small Finance Bank launched the Garima Savings Account for women customers, offering customized benefits including an interest rate of up to 7%.
Reported
Ujjivan Small Finance Bank reports Q3 FY2021 results[6]
Ujjivan Small Finance Bank announced financial performance for the quarter and nine months ended December 31, 2020, reporting a Q3FY21 loss of ₹279 crore due to accelerated credit provisioning.
Reported
Ujjivan SFB launches Money Mitra channel[7]
Ujjivan Small Finance Bank introduced Money Mitra, a channel through which local businesses offer the bank's customers retail banking services. The bank said it had established more than 100 outlets across India.
Reported
ALTBalaji and Ujjivan Small Finance Bank partner on subscription offer[8]
ALTBalaji partnered with Ujjivan Small Finance Bank to offer the bank’s customers a 15% discount on ALTBalaji subscriptions when paying with a Ujjivan Bank RuPay debit card. The offer was valid through 31 October 2020.
Reported
Ujjivan Small Finance Bank launches digital savings and fixed deposit accounts[9]
Ujjivan Small Finance Bank launched a Digital Savings Account, a fixed deposit account and a Privilege Savings Account. The instant savings and fixed deposit accounts can each be opened with a maximum deposit of Rs 1 lakh, subject to the stated account conditions.
Sources12 sources
- 1Ujjivan Small Finance Banken.wikipedia.org
- 2Ujjivan Small Finance Bank official websiteujjivansfb.in
- 3印度储备银行任命Ujjivan Small Finance Bank新增董事economictimes.indiatimes.com
- 4Decimal Technologies 与 Ujjivan Small Finance Bank 合作推进数字贷款equitybulls.com
- 5Ujjivan Small Finance Bank 推出 Garima 储蓄账户indiatvnews.com
- 6Ujjivan Small Finance Bank公布2021财年第三季度业绩equitybulls.com
- 7Ujjivan SFB推出Money Mitra社区银行渠道financialexpress.com
- 8ALTBalaji与Ujjivan Small Finance Bank合作推出订阅优惠indiantelevision.com
- 9Ujjivan Small Finance Bank 推出数字储蓄账户和定期存款账户thehindubusinessline.com
- 10Ujjivan SFB launches digital on-boarding for its micro banking customersthehindubusinessline.com
- 11Ujjivan Small Finance Bank appoints MD and CEObusiness-standard.com
- 12Ujjivan Small Finance Bank Ltd reports earnings for Q4FY21, FY2021equitybulls.com
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