Midnight oil is being burnt in the Head office of Equitas Holdings P Limited, Chennai to quickly submit the final application to Reserve Bank of India for issuance of the final licence to commence Small Finance Bank business.
EH is one of the 10 entities to which Reserve Bank of Indian has accorded in-principle approval for Small Finance Bank operations.
EH commenced its operations in 2007.
Sphere of Influence:
Operational Areas: 7 States-124 districts-361 districts
- Micro Finance
- Vehicle Finance
- Housing Finance
- Food Security
- Education Initiatives
Each product has dedicated staff to service the customers.
Shri Vasudevan P N – Chairman is alumni of Development Credit Bank
- Disbursement for the FY 2014-15 - 2,129.04Cr
- Disbursement since Inception - 7,309.29 Cr
- Loan Outstanding as on end of the month - 2,143.95 Cr
- MAR 2015 - No.of Customers as on end of the month - 22.92 Lacs
- Out of which Customers in poorest districts - 8.05 Lacs
- No.of Loans as on end of the month - 24.50 Lacs
- Out of which no.of Loans in poorest districts - 8.80 Lacs
- Out of which no. of poorest districts served - 50
Equitas has State of the art IT Infrastructure and is the First MFI to implement Core Banking Software