HomeFundingUjjivan Small Finance...

Ujjivan Small Finance Bank to raise ₹350 crore from World Bank Group


Bengaluru-based Ujjivan Small Finance Bank is in talks with International Finance Corporation (IFC), the investment arm of World Bank Group to raise around INR 350 crores ($50 million) in debt capital, as reported by VCCircle. The investment will enable Ujjivan Small Finance Bank to expand its outreach to low-income borrowers and strengthen its balance sheet.

The investment is speculated to be offered via subordinated debt or junior debt. The reports suggest that the small finance bank will put up a loan proposal in front of the IFC’s board next year in February.

Ujjivan Small Finance Bank is a wholly owned subsidiary of Ujjivan Financial Services. The bank was provided with a small finance bank license by RBI in November 2016. The bank started its operations in February 2017.

Ujjivan Small Finance Bank is working towards providing financial services to unserved and underprivileged classes of Indian customers. The latest development will help the bank to offer microcredits to small and micro enterprises.

The bank currently has 462 branches, 275 banking outlets and 187 asset centres. The total loan book stands at INR 7,878 crores while total loan disbursal stands at INR 2,092 crores as of June this year.

International Finance Corporation has to lead a number of equity investments in India including funding of startups like BigBasket, Lenskart, NephroPlus, Byju’s, Portea Medical and BlackBuck among many others.

Continue reading

How to Read NFL Odds

A game in the NFL has two possible outcomes. The first result has been posted on the scoreboard: which team has triumphed and which side has suffered a loss? The second tally is done by bettors: whether the team...

How to Bet on the NFL

Football is one of the most popular sports in North America, and its popularity, particularly in the NFL, is at an all-time high. People all over the world analyze data, matchups, NFL stats, and patterns to obtain an advantage...

First Person Live Gaming – The Evolution of Real-Time Gambling in India

Indian players have been enjoying the benefits of playing live dealer games for many years now. Every player that has experienced this revolutionary innovation in online gambling would testify that it is beautiful. Nothing beats getting to enjoy a...

Submit details about your funding and get published for FREE

Get an online story about your startup and reach millions of readers