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Suryoday Small Finance Bank is the company from _________ to obtain a ‘small finance bank’ license from the Reserve Bank of India.
Question

Suryoday Small Finance Bank is the company from _________ to obtain a ‘small finance bank’ license from the Reserve Bank of India.

A.

Madhya Pradesh

B.

Andhra Pradesh

C.

Maharashtra

D.

Gujarat

Correct option is C

The correct answer is (c) Maharashtra
Explanation:
Suryoday Small Finance Bank, originally Suryoday Micro Finance Private Limited, was established in 2008 and obtained a small finance bank license from the Reserve Bank of India (RBI) in 2017.
It is headquartered in Navi Mumbai, Maharashtra.
The company initially operated as a microfinance institution and later transitioned to a small finance bank.
Suryoday Small Finance Bank focuses on providing banking services to underserved and unbanked sections of the population, particularly in rural and semi-urban areas.
Additional Information :
  • Maharashtra is the state where the headquarters of Suryoday Small Finance Bank is located.
  • The bank offers services like savings accounts, fixed deposits, microloans, and banking for the unbanked.
  • The bank focuses on financial inclusion by offering services to rural and semi-urban populations.
  • Suryoday Small Finance Bank has branches in multiple states, focusing on the unserved and underserved segments.

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