Ujjivan Small Finance Bank Limited, a wholly owned subsidiary of Ujjivan Financial Services Ltd. announced the commencement of its banking operations in Guwahati with the launch of one branch at Lachit Nagar on 23rd November, 2017. The bank was inaugurated by Nandalal Mondal, SLBC convenor in presence of Rupam Goswami and Sisir Kumar Kalita, respectfully the president and secretary, chamber of commerce, Guwahati.
The bank started its banking operations in February 2017 with pilot branches in Bangalore. Currently, Ujjivan Small Finance Bank has 2 (Two) branches live in Assam including Tezpur and Guwahati. Ujjivan SFB will further strengthen its presence in North East region with bank branches in Nalbari and Dharmanagar. With a Hundred-Ten branches at present, Ujjivan SFB has established its presence across 19 (Nineteen) States and Union Territories. Over the past 7 (Seven) years, Ujjivan’s micro finance branch in Guwahati has catered to over 11,000 customers. The existing Ujjivan customers would be on-boarded as bank customers. The process of on-boarding over 2100 microfinance customers has already been initiated, while the transition for the rest will take place in a phased manner. Ujjivan is present across 8 (Eight) districts in Assam with 17 (Seventeen) branches, catering to over 1.5 lakh customers.
Speaking on the development, Samit Ghosh, MD & CEO, Ujjivan Small Finance Bank Ltd. said, “After serving our customers as a microfinance entity, I am pleased to now announce the launch of our banking operations in Guwahati. In 9 (Nine) months of our bank launch, we have established our presence across all four regions with 110 bank branches. In the coming months, we will continue to increase our banking footprint across the country to serve the target customer segments.”
Commenting on the launch, Ittira Davis, Chief Operating Officer, Ujjivan Small Finance Bank Ltd. said, “At Ujjivan SFB, we are striving towards making banking more seamless and accessible for our customers and hence we have invested significantly on technology and digitization. Ujjivan SFB is offering savings bank account with no charges for minimum balance. Additionally, we are providing a whole host of benefits such as doorstep banking, mobile, internet and phone banking, access to biometric ATMs and Aadhar enabled debit cards. Aadhar enabled KYC facilitates paperless account opening in approximately 5-7 minutes using biometric authentication on a hand-held device. The device can also be used for cash deposits, withdrawals and fund transfers at the customer’s doorstep.’’ The customers of Ujjivan SFB will have unlimited access to ATM transactions on Ujjivan’s ATM network and a total of six free transactions on other bank’s ATM networks, making this one of the highest free transactions offered by any bank, currently. Ujjivan SFB will also offer remittance services enabling customers to transfer money within Ujjivan and other bank accounts in a very reasonable and affordable manner. This has always been a key requirement of customers from this segment. Customers can also visit branches to avail this facility. Ujjivan SFB branches have been specifically designed to be customer friendly with the philosophy of ‘always assisted’. The bank will be inviting customers on a facilitated guided tour where critical aspects of banking services will be explained and demonstrated.