Mr. Samit Ghosh, the founder of Ujjivan identified the demand-supply gap in access to credit products among the urban poor in 2005, a segment which constituted a population at that time of about 10.6 crores. This led him to start Ujjivan in October 2005 with the initial objective of providing full range of financial services to the economically active poor in urban areas who were not adequately served by financial institutions. Ujjivan adapted the Grameen model and customized to fit the Indian context for serving urban poor, who were the fastest growing unserved population. Since inception, Ujjivan’s business model has been centered on acquiring an in-depth understanding of customer needs to develop tailored products that are distributed through customized delivery channels. Its operations combined the high-touch point microfinance model with the technology prowess and back-end support functions of a retail bank, to establish wider penetration and best-in-class process efficiency. Ujjivan was the first MFI to start its operations with a fully integrated IT platform at backend.

On October 7, 2015, Ujjivan received an in-principle approval from the RBI to set up a Small Finance Bank and floated its wholly owned subsidiary ‘Ujjivan Small Finance Bank Limited’. The Company transferred its business to Ujjivan Small Finance Bank which subsequent to the RBI licence commenced its banking operations from February 01, 2017. Ujjivan Small Finance Bank Ltd. is also included in the Second Schedule to the Reserve Bank of India Act, 1934.

Subsequent to the transfer of business, as mandated by the RBI, Ujjivan Financial Services Limited got itself registered (registration number 02.00287) as a Core Investment Company (NBFC-NDSI-CIC). Its main objects are to carry on the business of making investments in group company(ies) in the form of securities and providing guarantees etc. and to carry on financial activities, whether in India or outside, in the nature of investment in bank deposits, money market instruments (including money market mutual funds and liquid mutual funds), government securities, and to carry on such other activities as may be permitted and prescribed by the relevant statutory authorities for core investment companies from time to time.

As a part of its on-going CSR initiatives, Ujjivan is partnered with Parinaam Foundation which undertakes the community development programs, educational programs and financial literacy programs across many places in India. Further, Ujjivan is also in partnership with Piramal Foundation for executing free medical aid and water related services to various communities.

Ujjivan Small Finance Bank Limited (the wholly owned subsidiary of our Company as on June 30, 2019) is a mass market focused small finance bank in India, catering to financially unserved and underserved segments and committed to building financial inclusion in the country. Our Promoter, Ujjivan Financial Services Limited (UFSL) commenced operations as an NBFC in 2005 with the mission to provide a full range of financial services to the ‘economically active poor’ who were not adequately served by financial institutions. On October 7, 2015, UFSL received RBI In-Principle Approval to set up a Small Finance Bank(SFB), following which it incorporated Ujjivan Small Finance Bank Limited as a wholly-owned subsidiary. UFSL, subsequent to obtaining RBI Final Approval on November 11, 2016 to establish and carry on business as an SFB, transferred its business undertaking comprising of its lending and financing business to our Bank, which commenced its operations from February 1, 2017. We are a ‘scheduled bank’ included in the Second Schedule to the Reserve Bank of India Act, 1934

Ujjivan Small Finance Bank has a diversified portfolio with branches spread across 24 states and union territories and a customer base of 4.72 million as of June 30, 2019. Apart from the network of branches, ATMs and Automated Cash Recyclers, we have a phone banking unit that services customers in eleven languages, a mobile banking application that is accessible in five languages as well as internet banking facility for individual and corporate customers. Our focus is to use technology as an enabler for our customers that allows us to customize and deliver products and services to suit their needs.