Utkarsh CoreInvest Limited, the Promoter was granted the RBI In-Principle Approval to establish an SFB onOctober 7, 2015. the Bank was incorporated as `Utkarsh Small Finance Bank Limited' on April 30, 2016 atVaranasi, Uttar Pradesh, as a public limited company under the Companies Act, 2013 and was granted a certificate of incorporation by the Registrar of Companies, Central Registration Centre. the Bank was thereafter granted the RBI Licence to carry on business as an SFB on November 25, 2016. Subsequently, the Promoter transferred its Business Undertaking comprising its lending and financing business to the Bank in accordance with the terms of the Business Transfer Agreement. For further details, see "- Key Terms of other Material Agreements" on page 210 below. the Bank commenced its business operations on January 23, 2017. the Bank was included in the second schedule to the RBI Act pursuant to a notification bearing no. DBR.NBD.(SFB-UMFL).No.2689/16.13.216/2017-2018 dated October 4, 2017 issued by the RBI and published in the Gazette of India (Part III - Section 4) dated November 7, 2017.Major events and milestones :2017- Commenced the banking operations- Launched the mobile banking and internet banking facilities2018- Launched the wholesale lending business and personal loans- Launched the asset business through business correspondents- The deposit base crossed Rs. 20,000 million- The gross advances crossed Rs. 30,000 million- Launched bancassurance business with partners- Increase in savings accounts and active loan clients to over 200,000 and 2,000,000 respectively- Launched bill payment services2019- Launched cashless disbursements for microfinance loans- Conversion of microfinance branches to Banking Outlets2020- The deposit base crossed Rs. 50,000 million- We crossed 500 banking outlets- Launched micro-banking business and two-wheeler loans- The customer base crossed 2.50 million2021- Launched digital on-boarding of accounts- Launched non-fund based facility and working capital loans2022- Opened branches in Andhra Pradesh, Tamil Nadu, Karnataka and Kerala- Launch of green PIN initiative at Micro ATMs as replacement for physical PIN mailers- Launch of white label payment gateway- Launch of collection current account and escrow bank account products- Launch of Utkarsh UPI application- We reached 686 banking outlets- Crossed one million debit card issuances- Appointed as corporate agent by Bharti AXA Life Insurance Company Limited, Kotak Mahindra General Insurance Company Limited and Aditya Birla Health Insurance Company Limited for soliciting insurance policies- Launched brown label ATM services- On-boarded Finnable Technologies Private Limited as a business correspondent- Launched Atal Pension Yojana at the Bank- The deposit base crossed Rs. 100,000 million- Shifting of registered office to Utkarsh Tower, NH - 31 (Airport Road), Sehmalpur, Kazi Sarai, Harhua, Varanasi, 221 105, Uttar Pradesh, India, a property owned by the Bank2023- Crossed 800,000 customers on-boarded through digital onboarding- Launch of `Utkarsh Gold Loan', a secured gold loan product- Launch of UPI-LITE - on-device wallet functionality for UPI users- On-boarded Moneyboxx Finance Limited as a business correspondent- Appointed as corporate agent by Future Generali India Insurance Company Limited- Launch of facility for cashless disbursement of JLG loan to clients- Launch of facility for cashless collection of JLG loan instalments- Partnership with ICICI Securities Limited for 3-in-1 accounts comprising demat, online trading and savings account- Empanelment by Government of Chhattisgarh for deposit of government amounts in commercial banks- Empanelment by Government of Maharashtra for disbursement of salary and allowances to government employees and for providing pension to pensioners 2022 -Utkarsh Launched USFB by Prime Minister of India. 2023 -Utkarsh Small Finance Bank Ltd expands its presence in the state of Madhya Pradesh. 2024 -Utkarsh Small Finance Bank Celebrates 7yrs of Success.