Utkarsh Small Finance Bank inaugurates three new outlets

Deoria - #UtkarshSmallFinanceBankLimited announced the inauguration of its three new banking outlets in the state of Uttar Pradesh. Customers in Rudapur, Deoria, Dhampur, Bijnor, and Budhana, Muzaffarnagar will now have access to the Bank's products and services, such as savings accounts, current accounts, fixed deposits, and recurring deposits, as well as various loan products such as housing loan, business loan, loan against property, credit, insurance and investment products. The Bank aims to provide integrated customer service through its banking outlet infrastructure, digital banking capabilities and ATM network.

Mr. Govind Singh, Managing Director & CEO, of Utkarsh Small Finance Bank Ltd., emphasizing the Bank’s commitment to Uttar Pradesh said, “Our new banking outlets at Rudapur, Deoria, Dhampur, Bijnor and Budhana, Muzaffarnagar underline our commitment to promote local entrepreneurship and enhance financial inclusion in the region. By providing access to essential banking services and micro-banking loans through the JLG model, we aim to strengthen the economic resilience of underprivileged communities and contribute to the socio-economic progress of Uttar Pradesh.”

These banking outlets will provide micro-banking loans for business development services to underprivileged or low-income individuals or groups with limited access to financial services. The JLG model of group lending incorporates a peer-guarantee loan model, which enables individuals to avail loans on an individual basis without any collateral or security while promoting credit discipline through mutual support within the group and ensuring timely repayment of their loans.

Customers can access banking services through various channels such as banking outlets, micro ATMs (during banking hours), Internet Banking, Mobile Banking, Unified Payment Interface (UPI), and call center.