Ministry : Reserve Bank of India

Department/Board : RBI

Press Release No. : 2016-2017/657

Date : 12.09.2016

Equitas Small Finance Bank Limited commences operations.

The Reserve Bank of India has issued a licence to Equitas Small Finance Bank Limited under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank (SFB) in India. Apropos the issue of licence, Equitas Small Finance Bank Limited commenced its operations as a small finance bank (SFB) from September 5, 2016. Equitas Holding P Limited was one of the 10 applicants that were issued in-principle approval for setting up SFBs as announced in the press release on September 16, 2015.

Alpana Killawala
Principal Adviser