The Equitas Small Finance Bank has been in the news of financial and banking world for days now after a historic alliance made by the small finance bank. The decision made is one of a kind and is a major makeshift in the history of small finance bank history.
Well, it recently announced a major tie-up with Google which shall allow the customers of Google Pay (previously known as Tez) to book Fixed Deposits on their platform and the FDs will be issued by Equitas Small Finance Bank. This being a significant development and a growth oriented deal for Equitas has gathered a lot of attention in the recent days. There are chances for questions related to this deal being asked in the upcoming banking exams. As an apirant you should now know all the necessary details about the Equitas Small Finance Bank.
The Financial Express about the alliance said “Equitas-Google tie-up will target a clientele uneconomical for legacy banking to serve.” Although it is yet to be seen how will Reserve Bank of India oversee such a collaboration. RBI has made it clear that it will always have a stringent control over the big fintech companies in India.
Equitas Small Finance Bank started out as a small finance bank as a microfinance lender.
Headquarters: Chennai
Founded: 2016
Revenue: 3,641 crores INR (US$510 million, 2021)
Net income: 384 crores INR (US$54 million, 2021)
Key people: Arun Ramanathan (Part-time Chairman); Vasudevan P N (MD & CEO)
Parent organization: Equitas Holding
Find daily banking current affairs 2021 updates posted on our official Instagram handle as well.
You might want to subscribe to our push notifications for such daily valuable articles.
Still, have some doubts about what we discussed in this blog? Then, leave your queries in the comment section below. We will surely respond to them.
FCI Assistant Grade 3 Recruitment 2024 Notification covers all details on selection process, vacancy, apply…
FCI Recruitment 2024 Notification to hire Assistant Grade 3 and Manager posts on the official…
Get ready for SSC CHSL 2024 with expert tips! Learn about exam pattern, marking scheme,…
Unlock the Success with SSC CHSL 2024 Study Plan For 1 Month. Get SSC CHSL…
SSC CHSL Cut Off 2024, Previous Year Cut Off Marks. Find SSC CHSL Cut Off…
SSC CHSL Salary 2024, Job Profile for LDC, DEO & PA/SA. Explore SSC CHSL Salary,…