Top 9 Small Finances banks in India


As per the Reserve Bank of India, small finance banks are those banks that have been set up to undertake basic banking services like deposits and lending to unserved and underserved sections including small business units, farmers, and others.

India has the world’s second-largest unbanked population, with more than 200 million people lacking a bank account and relying on cash or informal financing. As per the lender reports, there is 45% growth in India by end of the quarter in these banks.

There are multiple small finances banks in India, If you are looking for finance banks we have listed down a few of the leading small finance banks of India :-

1. AU Small finance Bank Ltd

AU Small finance Bank Ltd was formed on 10 Jan 1996 in Jaipur. It was founded by Mr. Sanjay Agarwal as small insurance company which later became a small finance company. A non-deposit taking Non-Banking Finance Company (NBFC), it effectively worked on funding economic growth, especially for the under-served and un-served low & middle-class individuals.

AU Small finance bank offers the services in Savings and current accounts, Term deposits, Recurring deposits, Debit cards, collections and payments solutions

Operating RevenueOver INR 500 cr
Networth 96.60 %
Debt/Equity Ratio3.90
Return on Equity41.36 %

CIN number : L36911RJ1996PLC011381

Purchase financial report.

2.    Capital Small Finance Bank Ltd

Capital Small Finance Bank Ltd (CSBL) is another small finance bank in India. This bank was founded in Karnataka on 31 May 1999 and has more than 12 directors mainly Srinath Srinivasan, Mahesh Parasuraman and others. Prior to the conversion of a small bank, Capital small finance bank was operating as a local area bank. In a very short span of time, it has reached many other states of India.

This bank helps social enterprises in their development and increases their visibility in the society

Operating RevenueINR 100 cr – 500 cr
EBITDA 15.70 %
Networth 65.64 %
Debt/Equity Ratio13.30
Return on Equity7.91 %

CIN number : U65110PB1999PLC022634

Purchase financial report.

3.    Fincare Small Finance Bank Ltd

Fincare Small Finance Bank Ltd (FSFBL) is formed by the two NBFC micros finances institutions coming together Future Financial Services Private Limited and Disha Microfin Private Limited. Fincare Small Finance Bank Ltd was formed on 05 April 1995 in Ahmedabad

FSFBL provide home loan, gold loan, loan against property and helps in saving account, current account and finances.

Operating RevenueINR 100 cr – 500 cr
EBITDA -101.43 %
Networth -22.41 %
Debt/Equity Ratio5.62
Return on Equity-28.90 %

CIN number : U67120GJ1995PLC025373

Purchase financial report.

4.    Equitas Small Finance Bank

Equitas Small Finance Bank (ESFB) is a small finance bank founded on 21 June 1993 in Chennai, TN. The company provide services in all type of accounts, FD, loans, debit and credit cards.

Operating RevenueINR 100 cr – 500 cr
EBITDA -84.39 %
Networth 13.60%
Debt/Equity Ratio2.51
Return on Equity11.97 %

CIN number : L65191TN1993PLC025280

Purchase financial report.

5.    ESAF Small Finance Bank (ESAF SFB)

ESAF Small Finance Bank (ESAF SFB) is the small finance bank in India which provide the banking solutions. This bank was incorporated on 05 May 2016 in Thrissur. This bank was having 575 banking outlets across 21 states and 2 union territories by March, 2022.

It is currently focused in retail banking business with presence in micro-finance, housing finance, business loans.

Operating Revenue 
Debt/Equity Ratio 
Return on Equity 

CIN number : U65990KL2016PLC045669

Purchase financial report.

6.    Suryoday Small Finance Bank

Suryoday Small Finance Bank (SSFB) was formed on 10 November 2008 in Mumbai by Mrutunjay Sahoo, Jyotin Kantilal Mehta, and others. This company was having 8 directors initially. In just few years this company has grown from micros finance company to small finance company. Today almost more than 1.4million customer are associated with this company.

The company is a non-banking finance company, is engaged in providing loans to women from economically weaker sections, below poverty line

Operating RevenueINR 100 cr – 500 cr
Debt/Equity Ratio5.00
Return on Equity13.89%

CIN number : L65923MH2008PLC261472

Purchase financial report.

7. Jana Small Finance Bank

Jana Small Finance Bank (JSFB) is a small finance bank that commenced operations on March 28, 2018, headquartered in Bangalore, India. This bank was incorporated on 24 July 2006.

This bank provides the services like loans for individuals, including small batch, Nano, education, and home improvement loans, as well as loans to small and marginal farmers, and leased land cultivators, life insurance for loans, livestock insurance for livestock loans, home insurance, fire and burglary insurance, savings plans, and prepaid cards, as well as financing for urban infrastructure projects and services

Operating RevenueOver INR 500 cr
Debt/Equity Ratio15.93
Return on Equity-358.73%

CIN number : U65923KA2006PLC040028

Purchase financial report.

8.    Utkarsh Small Finance Bank

This bank was formed on 30 April 2016 in Varanasi, UP by 8 directors mainly Nagesh Dinkar Pinge, Ajay Kumar Kapur, and others. This bank is more than 528 outlets in different part of India. Utkarsh Small Finance Bank Limited has had nearly 2.74 million customers including customers of credit and deposit.

Utkarsh Small Finance Bank Limited provides banking products and services like savings account, deposits, credit, cards, and loans

Operating RevenueUnder INR 1 cr
Networth1.35 lac%
Debt/Equity Ratio9.98
Return on Equity-14.42%

CIN number : U65992UP2016PLC082804

Purchase financial report.

 9.    North East Small Finance Bank

North East Small Finance Bank was incorporated on 25 July 2016 in Kamrup, Assam. The only institution from North-Eastern state of India to receive “In-principle approval” to set up Small Finance Bank from Reserve Bank of India. The bank has more than 155 Branch Network spread across nine states including eight states from the Northeast and West Bengal.

The company provides banking services. It offers services such as saving and current accounts, fixed deposits, loans, online banking, and cards.

Operating RevenueINR 1 cr – 100 cr
Networth185.98 lac%
Debt/Equity Ratio3.91
Return on Equity7.07%

CIN number : U65100AS2016PLC017505

Purchase financial report.