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Reliance Securities Report
Suryoday Small Finance Bank Ltd., incorporated in 2008, is a leading small finance bank, which has been promoting financial inclusion by serving the customers in the unbanked and underbanked segments in India.
Pursuant to receipt of the Reserve Bank of India's final approval, it started operations as SFB in January 2017.
Prior to the commencement of operations as an SFB, it operated as an Non-Banking Finance Corporation – Microfinance Institution carrying out microfinance operations and operated as joint liability group lending model for providing collateral free small ticket-size loans to economically active women belonging to weaker sections.
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