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Saraswat Bank s Education Loan a big hit

Shivalik Mercantile Co-op Bank begins operation as Shivalik SFB

Shivalik Mercantile Co-op Bank begins operation as Shivalik SFB CEO Gupta confident of increasing business by 3-fold in four years Shivalik Mercantile Co-operative Bank has commenced operations as a small finance bank with effect from April 26, 2021, says RBI in a press release. It is the first UCB which has migrated to the new platform of Small Finance Bank despite facing opposition from the UCB fraternity. A Rs 2000 crore bank, Shivalik now aims to grow three times to Rs 6000 crore in a time length of four years, claimed its CEO Suveer Kumar Gupta, quotes PTI. Uttar Pradesh based bank has 31 branches and 57 ATMs.

Shivalik Small Finance Bank commences operations

Shivalik Small Finance Bank commences operations ​ By IANS | ​ 3 Views Iran, Syria to launch joint bank to facilitate trade ties. Image Source: IANS News Mumbai, April 26 : Shivalik Small Finance Bank Ltd has commenced operations as a small finance bank with effect from Monday. The Reserve Bank of India has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India, said an RBI statement. Shivalik Mercantile Co-operative Bank Limited was granted an in-principle approval for transition into a small finance bank, under the Scheme on voluntary transition of Urban Co-operative Bank into a Small Finance Bank issued on September 27, 2018.

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