Centrum, BharatPe to build a digital small finance bank in India

Thursday 14 October 2021 14:23 CET | News

The Reserve Bank of India (RBI) has issued a Small Finance Bank (SFB) license to the consortium of Centrum and BharatPe, according to IBS Intelligence.

A new bank license has been issued after a gap of nearly 6 years. The new SFB, has been incorporated as ‘Unity Small Finance Bank’. Unity as a name has significance on many counts for both Centrum and BharatPe. Reportedly, it is the first time that two partners are uniting equally to build a bank. 

The proposed business model is one of collaboration and open architecture, uniting all its stakeholders to deliver a seamless digital experience. Centrum’s successful MSME and Micro Finance businesses shall be merged into Unity Small Finance Bank.

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Keywords: partnership, banking license, SMEs
Categories: Banking & Fintech
Countries: India
This article is part of category

Banking & Fintech