Skip to main content

Suryoday SFB Disburses Loan Under PM's Street Vendor Scheme

 


Suryoday Small Finance Bank (SSFB), one of the fastest-growing small finance banks today announced disbursement of its first loan under the PMs SVA Nidhi scheme.

The loan of ₹10,000 as mandated in the scheme was disbursed to “Mrs. Asha Ashok Valmiki, “ a vegetable vendor “. The Bank ensured that the complete process of sanctioning the loan and withdrawal was digital and hassle-free.

Commenting on this R Baskar Babu, MD &CEO Suryoday Small Finance Bank said " We take great pride in being a part of the PMs vision of providing small working capital loans to street vendors under the PM SVANidhi scheme, which is aimed at creating an Atmanirbhar ecosystem and helping them to bounce back after the crisis caused by the pandemic".

It is our endeavor always, to bring a world-class banking experience to our customers and enable them to attain comprehensive financial stability. The government has been forthcoming in announcing various initiatives to the people and businesses most affected by the ongoing pandemic and we are delighted to be a part of this in our own small way."

Suryoday Small Finance Bank since inception has been continuously developing and evolving the financial products and service to make it more holistic to serve the needs of the underbanked segment, apart from financially educating them about various saving and investment options, government insurance schemes and digital banking channels.

Suryoday Small Finance Bank (SSFB) is positioned well both in terms of assets and liabilities. Currently, SSFB has a deposit base of approx ₹3000 crore in deposit book and a gross loan portfolio of around 3700 crore.

SSFB offers one of the most competitive deposit rates in the industry. Currently, a savings account can get an interest rate of up to 6.25%, whereas for an FD, the customer can earn up to 7.50% interest rate. For senior citizens, the interest rate offered is 8%.

Suryoday Small Finance Bank has recently filed draft papers with capital markets watchdog Sebi to float an initial public offering.

The initial public offering comprises fresh issuance of 1,15,95,000 equity shares and an offer for sale of up to 84,66,796 equity scrips by existing shareholders, according to the draft papers filed with Sebi.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience 

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Labels:

Comments

Post a Comment

Please leave your name and email id along with the comment .
Get the updates from this blog direct to your inbox . Fill in your email id on the home page.

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t
Post a Comment
Read more

TCS merger with TCS e serve

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res
2 comments
Read more

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p
10 comments
Read more