Ujjivan Financial Services Limited (UFS), one of the ten entities to receive an in-principle approval to set up small finance bank from the Reserve Bank of India, has become the fifth entity to have commenced business as a small finance bank on February 1, 2017.
The setting up required transfer of the existing lending and financing business of UFS, a public listed NBFC-MFI, to its wholly owned subsidiary, Ujjivan Small Finance Bank.
Indus Law advised . . .
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