The Reserve Bank of India (RBI) has issued a Small Finance Bank (SFB) license to the consortium of Centrum Financial Services (Centrum), step down subsidiary of Centrum Capital and Resilient Innovations (BharatPe), one of India's fastest-growing fintech companies. A new bank license has been issued after a gap of nearly 6 years.
The new SFB, has been incorporated as ‘Unity Small Finance Bank’. Unity as a name has tremendous significance on many counts for both Centrum and BharatPe. It is the first time ever that two partners are uniting equally to build a Bank. The proposed business model is one of collaboration and open architecture, uniting all its stakeholders to deliver a seamless digital experience. Centrum’s successful MSME and Micro Finance businesses shall be merged into Unity Small Finance Bank.
Centrum Capital is an investment banking company, which offers a range of financial services in the areas of equity capital market, private equity, corporate finance, project finance and stressed asset resolution.
