Monday, 6 December 2021

Centrum and BharatPe consortium get small finance bank licence from RBI

5 min read

12 October 2021 – After a gap of six years, Reserve Bank of India (RBI) approved a Small Finance Bank licence to a consortium of Centrum Financial Services and fintech BharatPe. They are set to form the country's first digital small finance bank. Centrum’s MSME and micro finance businesses will merged into the new entity known as Unity Small Finance Bank. As the proposed bank would be digital, it would not require physical infrastructure in the form of branches. The proposed business model is one of collaboration and open architecture, uniting all its stakeholders to deliver a seamless digital experience.

Re-disseminated by The Asian Banker from Centrum Financial

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