Ujjivan Small Finance Bank

Corporate brand

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]Ujjivan Small Finance Banken.wikipedia.org
The referenced Wikipedia material reported that the bank had 777 branches as of December 2025.
2024
Reverse merger completed
[1]Ujjivan Small Finance Banken.wikipedia.org
Completion of the reverse merger made Ujjivan Small Finance Bank fully publicly owned.
2024
Authorised Dealer Category I licence
[1]Ujjivan Small Finance Banken.wikipedia.org
The bank received an RBI Authorised Dealer Category I licence, allowing it to provide foreign-exchange services.
2022
Reverse-merger approval
[1]Ujjivan Small Finance Banken.wikipedia.org
Ujjivan Financial Services approved a reverse merger into Ujjivan Small Finance Bank.
2019
Initial public offering
[1]Ujjivan Small Finance Banken.wikipedia.org
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 Banken.wikipedia.org
Ujjivan Small Finance Bank began operations on 1 February 2017.
2017
Scheduled Bank status
[1]Ujjivan Small Finance Banken.wikipedia.org
The Reserve Bank of India granted the bank Scheduled Bank status in August 2017.
2016
Final banking licence
[1]Ujjivan Small Finance Banken.wikipedia.org
Ujjivan received its final banking licence from the Reserve Bank of India on 11 November 2016.
2015
In-principle small-finance-bank approval
[1]Ujjivan Small Finance Banken.wikipedia.org
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]Ujjivan Small Finance Banken.wikipedia.org
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 servicesStrategy
Background
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.
Source
2022
Reverse merger of Ujjivan Financial ServicesM&A
Background
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)
Source
2019
Public-market listingOther
Background
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)
Source
2017
Conversion of legacy NBFC branches into bank branchesStrategy
Background
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.
Source

Recent events

2024
Reverse merger is completed[1]Ujjivan Small Finance Banken.wikipedia.org
M&A
The reverse merger of Ujjivan Financial Services into Ujjivan Small Finance Bank was completed, making the bank fully publicly owned and consolidating the group’s structure.
2024
Ujjivan receives Authorised Dealer Category I licence[1]Ujjivan Small Finance Banken.wikipedia.org
Regulation · Product launch
The Reserve Bank of India granted the bank an Authorised Dealer Category I licence, enabling it to provide foreign-exchange services.
2022
Ujjivan Financial Services approves reverse merger[1]Ujjivan Small Finance Banken.wikipedia.org
M&A
The board of Ujjivan Financial Services approved a reverse merger into Ujjivan Small Finance Bank. Ujjivan Financial Services held a 73.5% stake in the bank before the transaction.
2019
Ujjivan obtains approval for an initial public offering[1]Ujjivan Small Finance Banken.wikipedia.org
Other
The Securities and Exchange Board of India approved Ujjivan Small Finance Bank’s proposed initial public offering of up to ₹1,200 crore.
2019
Ujjivan Small Finance Bank lists on Indian stock exchanges[1]Ujjivan Small Finance Banken.wikipedia.org
Other
The bank’s IPO opened on 2 December 2019, and its shares were listed on the National Stock Exchange and Bombay Stock Exchange on 12 December 2019.
2017
Ujjivan Small Finance Bank begins operations[1]Ujjivan Small Finance Banken.wikipedia.org
Product launch
Ujjivan Small Finance Bank commenced banking operations on 1 February 2017, beginning its transition from the group’s earlier NBFC and microfinance platform.
2017
Ujjivan receives Scheduled Bank status[1]Ujjivan Small Finance Banken.wikipedia.org
Regulation
The Reserve Bank of India granted Ujjivan Small Finance Bank Scheduled Bank status.
2016
Ujjivan receives final banking licence[1]Ujjivan Small Finance Banken.wikipedia.org
Regulation
The Reserve Bank of India issued Ujjivan its final licence to operate as a small finance bank.
2015
Ujjivan receives in-principle approval to establish a small finance bank[1]Ujjivan Small Finance Banken.wikipedia.org
Regulation
The Reserve Bank of India granted Ujjivan Financial Services in-principle approval to establish a small finance bank. At the time, the Ujjivan business had more than 2.6 million customers and 464 branches across 24 Indian states.

Sources11 sources

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