Utkarsh Small Finance Bank Limited Opens Six New Branches in Odisha
Bhubaneswar: Utkarsh Small Finance Bank Limited (Utkarsh SFBL) proudly announces the inauguration of its new banking outlets in Lephripara (Sundargarh), Paparahandi (Nabrangpur), Ersama (Jagatsinghpur), Betnoti (Mayurbhanj), Buguda (Ganjam), and Kotapad (Koraput), Odisha. With these launches, the Bank has footprinted 101 banking outlets in Odisha and 1076 outlets nationwide.
Residents of Lephripara, Paparahandi, Ersama, Betnoti, Buguda, and Kotapad will benefit from a comprehensive suite of banking products, including savings accounts, current accounts, fixed deposits, and recurring deposits. The Bank also provides various loan products, such as housing loans, business loans, loan against property, credit, insurance, and investment products. The Bank’s infrastructure, digital banking capabilities, and ATM network ensure a seamless banking experience.
Commenting on the expansion, Mr. Govind Singh, MD & CEO, Utkarsh Small Finance Bank Limited, said,“The inauguration of our new banking outlets in Lephripara, Paparahandi, Ersama, Betnoti, Buguda, and Kotapad reflects our commitment to financial inclusion in Odisha, a state rich in history and culture.Lephripara, nestled in Sundargarh, is known for its deep-rooted tribal heritage and vibrant traditions that have been preserved for generations. Paparahandi, in Nabrangpur, embodies Odisha’s agrarian legacy, with its fertile lands sustaining local communities. Ersama, in Jagatsinghpur, holds historical significance as a coastal region that has withstood nature’s challenges while remaining a vital hub of resilience and trade. Betnoti, in Mayurbhanj, is steeped in cultural heritage, renowned for its grand festivals and artistic traditions. Buguda, in Ganjam, has long been a center of trade and craftsmanship, contributing to Odisha’s thriving commerce. Kotapad, in Koraput, is famed for its indigenous weaving traditions, particularly the renowned Kotpad textiles, symbolizing the rich artisanal legacy of the region.By establishing our presence in these culturally vibrant regions, we seek to bridge the gap between tradition and modern banking, ensuring financial empowerment reaches every corner of Odisha.”
These banking outlets will offer micro-banking loans for business development services to underprivileged or low-income individuals or groups who have limited access to financial services. The JLG model of group lending involves a peer-guarantee loan model enabling individuals to take loans without providing collateral or security on an individual basis, while promoting credit discipline through mutual support within the group and prompt repayment of their loans.
Customers can access banking services through various channels such as Banking Outlets, Micro ATMs (during banking hours), Internet banking, Mobile banking, Unified Payment Interface (UPI) and the Call Centre.
Additionally, the Bank provides facilities for customers to open a bank account without visiting the banking outlet through the tablet-based application-assisted model, “Digi On-Boarding”.
