‘Suryodaya Small Finance Bank’ opens new branch in Karnataka


In a bid to widen its presence in the country, Suryodaya Small Finance Bank is all set to open branches across the country. This effort leads in opening its first new branch in Jayanagar, Bangalore. The branch was inaugurated by Sri G.K Mahantesh, President of Cricket Association for the Blind in India (CABI) & World Blind Cricket (WBC)

Over the last ten months, the bank has set up its branches in Mumbai, Pune, Ahmedabad, Indore, Chennai, Trichy, Coimbatore and Pondicherry. After receiving its final nod from the Reserve Bank of India (RBI), Suryodaya Small Finance Bank Limited started its operations as a small finance bank from January 23, 2017. RBI issued the license to the bank under section 22 (1) of Regulation Act, 1949 to carry on the business of small finance bank in India. It was one among the 10 applicants to receive in-principle approval for setting up a small finance bank.

Speaking on the occasion, Mr. Baskar Babu – MD & CEO, Suryodaya Small Finance bank said “SSFB is focused on ensuring financial inclusion of the unbanked and under-banked through innovative banking practices. With the launch of this branch we look to further strengthen our existing presence in Karnataka state which is a strong forte for the banks and we will offer one of the most competitive interest rates on deposits to customers because of our robust model with low operating costs”.

Bharath the Head Branch banking & Retail banking of India also expressed his views that “In this financial year, the focus will be to deliver not just excellent customer experience but to create delight factors for all the segments we cater to, through technology initiatives and innovations”. He further added “We completed 2 years of operations as a Small finance Bank and we plan to continue building a healthy book and generate wealth for our customers”.

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