Shivalik Small Finance Bank (SSFB) is an Indian small finance bank headquartered in Jasola, New Delhi. It was formed from Shivalik Mercantile Co-operative Bank. Shivalik was the first urban co-operative bank in India to convert into a small finance bank.
History
Shivalik Mercantile Co-operative Bank
Shivalik Mercantile Co-operative Bank was established in 1998 by Yashvir Kumar Gupta. It operated as an urban co-operative bank before applying to the Reserve Bank of India (RBI) to convert into a small finance bank.
Small finance bank
In January 2021, the RBI granted Shivalik a licence to carry on banking business as a small finance bank.
Shivalik Small Finance Bank began operations on 26 April 2021. It became the first urban co-operative bank in India to commence operations as a small finance bank following conversion from its previous banking structure.
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