Equitas Small Finance Bank: Difference between revisions
No edit summary |
No edit summary |
||
| Line 48: | Line 48: | ||
== '''Awards and Recognition''' == |
== '''Awards and Recognition''' == |
||
# [http://www.yourchennai.com/2017/02/25/equitas-bank-awarded-zero-project/ Equitas small Finance Bank's Social and Financial empowerment of women with disabilities was awarded as an Innovative Policy/Practice in 2017 on Self-Employment by Zero Project in Vienna.] |
# [http://www.yourchennai.com/2017/02/25/equitas-bank-awarded-zero-project/ Equitas small Finance Bank's Social and Financial empowerment of women with disabilities was awarded as an Innovative Policy/Practice in 2017 on Self-Employment by Zero Project in Vienna.] |
||
# Equitas was ranked as one amongst India's Best Companies to Work for in 2015. |
# [http://www.greatplacetowork.in/best-companies/indias-best-companies-to-work-for Equitas was ranked as one amongst India's Best Companies to Work for in 2015.] |
||
# Recognised as the Best amongst MFIs in the world by CGAP (an arm of world bank) |
# Recognised as the Best amongst MFIs in the world by CGAP (an arm of world bank) |
||
# Certified by mfTransparency.org (a global NGO) as the only MFI in the world to transparently publish the cost of funds in the passbooks. |
# [http://www.mftransparency.org/a-conversation-with-mr-vasudevan-pn-founder-and-managing-director-of-equitas-microfinance-india-2/ Certified by mfTransparency.org (a global NGO) as the only MFI in the world to transparently publish the cost of funds in the passbooks.] |
||
== References == |
== References == |
||
Revision as of 12:03, 25 October 2017
 | |
| Industry | Banking, Financial Services |
|---|---|
| Founded | 2007 |
| Headquarters | Phase-II, 4th Floor,Spencer Plaza, No-769, Anna Salai, 600 002 Chennai , |
Number of locations | 412 |
Key people | Mr. P.N Vasudevan [Managing Director & CEO] |
| Products |
|
| Website | www |
Equitas Small finance Bank is an Indian small finance bank that was founded in 2007 headquartered in Chennai, Tamil Nadu. Mr. P. N. Vasudevan is the managing director & CEO of Equitas small Finance bank, which is the first small finance bank from Tamil Nadu to be put into practice post-Independence. Launched in 2016, Equitas has received the license to open 412 branches across 11 states in India.
History
Equitas Small Finance Bank Limited, licensed by Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 to carry on the business of Small Finance Bank, which it has commenced on 5th September 2016.
In 2008, it raised a fresh round of capital (6 crores) within a span of 3 months. In 2009, Equitas upgraded from MFI to MfR3 and raised a 99 crore fresh equity. It launched VF and HF business in 2011 and SME, LME business in 2013. The gross AUM of Equitas crossed 3000 crores in 2016 leading to the approval of RBI for the license as a Small Finance Bank and Equitas Small Finance bank was launched in the same year.
- In April 2016, the company had a successful Public Offer. The IPO was over-subscribed 17.2 times, a testimony to the governance standards.
- CRISIL has reaffirmed ''CRISIL GVC Level 2'' rating for the Corporate Governance of the company.
The Idea of Fun Banking
Equitas Small Finance Bank adds fun elements in all its processes and bank environment. As a part of its work culture, it has introduced Fun dress code for all its employees according to the days of the week.
Products & Service:
Asset: Equitas Small Finance Bank provides financing solutions for individuals, micro and small enterprises (MSEs) that are underserved by formal financing channels while providing a comprehensive banking and digital platform for all.
selfeFASTag: Equitas selfeFASTag lets you pass highway tolls without cash. This is the first FASTag in India to be delivered at your doorstep and hence is called self-service FASTag.
PURZ: Equitas PURZ is an online application that helps you with paying bills and recharging. The transfer of money can be through Unified Payment Interface and Bharat QR.
Debit Card Services: Equitas debit cards has two types of cards, RuPay and VISA. The withdrawal limit of the card varies according to the type of card.
Internet Banking: Equitas net banking facility allows money transaction across various platforms. There are three types of Internet banking in Equitas namely Retail internet banking, Corporate internet banking and mobile banking.
UPI: Equitas small Finance bank allows all bank users to send and receive money using Unified Payment Interface. The merging of several other banking operations is made seamless with UPI.
BharatQR: Equitas small Finance bank supports Bharath QR, a money transfer initiative by the government. The Bharat QR Code will make use of QR codes system for payments across merchant outlets.
Equitas Aadhaar pay: Linking the Aadhaar card and the Equitas bank account allows customers to pay through the Aadhaar pay app in shops and other outlets. Equitas Aadhaar pay requires only the thumbprint and Aadhaar number for the payment process.
Awards and Recognition
- Equitas small Finance Bank's Social and Financial empowerment of women with disabilities was awarded as an Innovative Policy/Practice in 2017 on Self-Employment by Zero Project in Vienna.
- Equitas was ranked as one amongst India's Best Companies to Work for in 2015.
- Recognised as the Best amongst MFIs in the world by CGAP (an arm of world bank)
- Certified by mfTransparency.org (a global NGO) as the only MFI in the world to transparently publish the cost of funds in the passbooks.
References
External links
  | This article about an Indian company is a stub. You can help Wikipedia by expanding it. |