Ujjivan Financial Services Limited started operations as an NBFC in 2005 with the mission of providing a full range of financial services to the economically active poor who are not adequately served by financial institutions.
We were the largest MFI in the country in terms of geographical spread having our operations was spread across 24 states and union territories, and 209 districts across India. Ujjivan's erstwhile business was primarily based on the joint liability group lending model for providing collateral free, small ticket-size loans to economically active poor women. We had also offered individual loans to Micro & Small Enterprises ("MSEs"). Ujjivan had adopted an integrated approach to lending, which combines a high customer touch-point typical of microfinance, with the technology infrastructure and related back-end support functions similar to that of a retail bank.
On October 7, 2015, Ujjivan received an in-principle approval from the RBI to set up a Small Finance Bank and floated its wholly owned subsidiary ‘Ujjivan Small Finance Bank Limited’. The Company transferred its business to Ujjivan Small Finance Bank which subsequent to the RBI licence commenced its banking operations from February 01, 2017. Ujjivan Small Finance Bank Ltd. is also included in the Second Schedule to the Reserve Bank of India Act, 1934.
Subsequent to the transfer of business, as mandated by the RBI, Ujjivan Financial Services Limited got itself registered as a Core Investment Company (NBFC-NDSI-CIC). Its main objects are to carry on the business of making investments in group company(ies) in the form of securities and providing guarantees etc. and to carry on financial activities, whether in India or outside, in the nature of investment in bank deposits, money market instruments (including money market mutual funds and liquid mutual funds), government securities, and to carry on such other activities as may be permitted and prescribed by the relevant statutory authorities for core investment companies from time to time.
As a part of its on-going CSR initiatives, Ujjivan is partnered with Parinaam Foundation which undertakes the community development programs, educational programs and financial literacy programs across many places in India.
Ujjivan Small Finance Bank Limited (Wholly owned subsidiary of the Company) serves over 37.13 lakh active customers through 441 branches and 10,881 employees spread across 209 districts and 24 states in India. Its Gross Loan Book stands at ₹7,095.28 crore. It has over 121 full-service banking branches with a deposit base of ₹2,437 crore as of December 31, 2017.