Which of the following microfinance institutions was earlier knows as Singhvi Investment and Finance Pvt Ltd?

Correct option is B

Equitas Microfinance was previously known as Singhvi Investment and Finance Pvt Ltd before it was rebranded and later became Equitas Small Finance Bank. The transformation took place in 2016, when the Reserve Bank of India (RBI) granted it a Small Finance Bank (SFB) license. The bank primarily focuses on providing financial inclusion services to individuals and businesses that lack access to traditional banking solutions.

Equitas Small Finance Bank is a subsidiary of Equitas Holdings Ltd., and it offers a wide range of financial products, including income-generating loans, emergency loans, and savings products. The bank plays a crucial role in microfinance and small-scale lending, catering to low-income groups, self-employed individuals, and small business owners.

Information Booster:

1. Equitas Small Finance Bank started its journey as a microfinance institution before converting into an SFB in 2016.
2. It is headquartered in Chennai, Tamil Nadu.
3. The bank offers loans for small businesses, housing, vehicle finance, and deposit products.
4. It focuses on serving the unbanked and underbanked segments of society.
5. It provides technology-driven banking solutions, including mobile banking and digital payment services.
6. Equitas Small Finance Bank was one of the ten entities that received RBI approval to operate as an SFB.
7. The bank is also known for its CSR initiatives, especially in financial literacy and healthcare services.

Additional Knowledge:

• (a) ESAF Microfinance and Investments (P) Ltd – Originally a microfinance company, it was granted a Small Finance Bank license by RBI in 2016 and is now known as ESAF Small Finance Bank.
• (c) Fusion Microfinance Pvt Ltd – A Delhi-based microfinance company that provides loans to women entrepreneurs in rural and semi-urban areas. It was founded in 2010.
• (d) Annapurna Microfinance Pvt Ltd – This Odisha-based microfinance institution primarily focuses on women empowerment and rural financial inclusion.

Key Points to Remember:

• Equitas Microfinance was previously called Singhvi Investment and Finance Pvt Ltd.
• It became Equitas Small Finance Bank in 2016 after obtaining an RBI license.
• The bank provides financial services to the unserved and underserved segments.
• Headquartered in Chennai, Tamil Nadu.
• A subsidiary of Equitas Holdings Ltd.