CleanupBot II: Removed empty portal template using script

2023-08-13T22:30:30Z

Removed empty portal template using script

← Older revision		Revision as of 04:00, 14 August 2023
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	==See also==		==See also==
	~~{{Portal\|Banks}}~~
	* [[Banking in India]]		* [[Banking in India]]
	* [[List of banks in India]]		* [[List of banks in India]]

>BattyBot: Removed/fixed incorrect author parameter(s), performed general fixes

2021-10-01T15:29:18Z

Removed/fixed incorrect author parameter(s), performed general fixes

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CleanupBot: /* External links */clean up, add source tag

2021-06-01T17:42:05Z

External links: clean up, add source tag

← Older revision		Revision as of 23:12, 1 June 2021
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	{{India-company-stub}}		{{India-company-stub}}
			{{en-Wikipedia}}

>BrownHairedGirl: −Category:Companies based in Chennai; −Category:Companies based in Tamil Nadu per WP:SUBCAT

2021-04-12T17:57:37Z

−Category:Companies based in Chennai; −Category:Companies based in Tamil Nadu per WP:SUBCAT

New page

{{Use dmy dates|date=October 2018}}
{{Use Indian English|date=October 2018}}
{{Infobox company
|name = Equitas Small Finance Bank.
|native_name =
|founded = 2016
|type = [[Small finance bank]]
|traded_as = {{NSE|EQUITASSFB}}
|revenue = ₹1,787.41 crores (US${{To USD|17874|IND|round=yes}} million)<ref>{{cite news|title=Equitas Holdings Jan-Mar profit soars over 5-fold to Rs 35 cr|url=https://timesofindia.indiatimes.com/business/india-business/equitas-holdings-jan-mar-profit-soars-over-5-fold-to-rs-35-cr/articleshow/63944110.cms|access-date=27 April 2018|work=The Times of India|agency=PTI|date=27 April 2018}}</ref><ref name=holding group=note>Financial information is for Equitas Holdings, of which Equitas Small Finance Bank is a subsidiary.</ref>
|revenue_year = 2018
|profit = ₹31.35 crores (US${{To USD|313.5|IND|round=yes}} million)<ref name=holding group=note />
|profit_year = 2018
|equity = ₹4,891.98 crores (US${{To USD|48920|IND|round=yes}} million)<ref name=holding group=note />
|equity_year = 2018
|industry = [[Banking]], [[financial services]]
|logo = Equitas-logo.png
|logo_size =
|num_employees =
|key_people = Shri Arun Ramanathan <br /> {{small|(Part-time Chairman)}} <br /> Mr. Vasudevan P N <br /> {{small|(MD & CEO)}}
|location = Phase-II, 4th Floor, Spencer Plaza, No-769, Anna Salai
|location_city = [[Chennai]]
|location_country = India
|website = {{URL|https://www.equitasbank.com}}
}}
'''Equitas Small Finance Bank''' (erstwhile Equitas Microfinance Ltd) is a [[small finance bank]] founded in 2016 by [[Equitas]] as a [[microfinance]] lender.<ref>{{Cite web|date=2016-07-01|title=Equitas gets RBI nod to commence Small Finance Bank operations|url=https://zeenews.india.com/business/news/companies/equitas-gets-rbi-nod-to-commence-small-finance-bank-operations_1902360.html|access-date=2021-03-24|website=Zee News|language=en}}</ref><ref>{{Cite web|last=Bureau|first=Our|title=Equitas Small Finance Bank starts operations|url=https://www.thehindubusinessline.com/money-and-banking/equitas-small-finance-bank-starts-operations/article9075512.ece|access-date=2021-03-24|website=@businessline|language=en}}</ref> The bank has headquarters in [[Chennai]], India.<ref>{{Cite web|url=https://www.bloomberg.com/profiles/companies/0894329D:IN-equitas-small-finance-bank-ltd|title=Equitas Small Finance Bank ltd|website=Bloomberg|access-date=15 March 2017}}</ref> After receiving license from the [[Reserve Bank of India]] (RBI) on 30 June 2016,<ref>{{cite news|last1=Narasimhan|first1=T. E.|title=Equitas gets final licence for small finance bank|url=http://www.business-standard.com/article/finance/equitas-gets-final-licence-for-small-finance-bank-116070100190_1.html|access-date=31 March 2018|work=Business Standard India|date=2 July 2016|location=Chennai}}</ref> Equitas Small Finance bank began banking on 5 September 2016 as a [[subsidiary]] of [[holding company]] Equitas Holdings Ltd.<ref>{{cite news|last1=Narasimhan|first1=T. E.|title=Equitas starts Small Finance Bank operations|url=http://www.business-standard.com/article/companies/equitas-starts-small-finance-bank-operations-116090500377_1.html|access-date=31 March 2018|work=Business Standard India|date=5 September 2016|location=Chennai}}</ref> With effect from 4 February 2017, Equitas became a [[Scheduled Banks (India)|scheduled bank]].<ref>{{Cite news|url=http://www.indiainfoline.com/article/news-top-story/equitas-small-finance-bank-equitas-small-finance-bank-now-becomes-a-scheduled-bank-117020600099_1.html|title=Equitas Small Finance Bank now becomes a scheduled bank|date=6 February 2017|work=India Infoline News Service}}</ref> However, the company missed on RBI's mandate of listing within 3 years of commencement of its operations. Review from the [[Securities and Exchange Board of India]] and RBI is awaited.<ref>{{Cite news|url=https://www.business-standard.com/article/economy-policy/equitas-small-finance-bank-misses-rbi-mandate-of-listing-within-3-years-119090500069_1.html|title=Equitas Small Finance Bank misses RBI mandate of listing within 3 years|last=Karthik|first=Hamsini|date=2019-09-05|work=Business Standard India|access-date=2019-09-07}}</ref>

The bank planned to build a network of 412 branches located in 11 [[States and union territories of India|Indian states]] by the end of fiscal year 2016-17.<ref>{{Cite news|url=http://www.thehindubusinessline.com/money-and-banking/equitas-small-finance-bank-starts-operations/article9075512.ece|work=The Hindu Business Line|title=Equitas Small Finance Bank starts operations|date=6 September 2016|access-date=15 March 2017|location=Mumbai}}</ref> However, for rendering technology oriented services, 83% of transactions occurring online as of July 2017. This includes the bank providing an [[Radio-frequency identification|RFID sticker]] to pay road tolls automatically, with settlements occurring digitally.<ref>{{cite web|title=Equitas Bank launches FASTag|url=http://www.dqindia.com/equitas-bank-launches-fastag/|website=Dataquest|access-date=16 March 2018|date=18 July 2017}}</ref>

==Equitas Development Initiatives Trust==
Equitas Microfinance Ltd established Equitas Development Initiatives Trust (EDIT) in 2008 to provide [[social services]].<ref name=livemint>{{cite web|last1=Thangavelu|first1=Dharani|title=Strong people policies at every stage set EDIT schools apart|url=http://www.livemint.com/Companies/FkTDhOuKTTRstT6Y89NNUN/Strong-people-policies-at-every-stage-set-EDIT-schools-apart.html|website=LiveMint|access-date=17 March 2018|date=6 October 2017}}</ref> In 2018, the bank committed 5% of profits to EDIT.<ref>{{cite web|title=Equitas Group commits contributing 5% of its annual profits to its Trust|url=http://indiacsr.in/csr-equitas-group-commits-contributing-5-of-its-annual-profits-to-its-trust/|website=India Corporate Social Responsility Network|access-date=17 March 2018|date=2 March 2018}}</ref>

EDIT established Equitas Gurukul Matriculation Schools in 2010. By 2017, the schools were employing 400 people, and educating 5,700 students primarily from backgrounds that offered limited opportunities.<ref name=livemint /> EDIT also has a programme called Equitas Bird's Nest that seeks to help impoverished [[pavement dwellers]]. In March 2018, EDIT celebrated the milestone of improving the quality of life for 1,300 families in Chennai through this programme.<ref>{{cite web|title=Equitas Small Finance Bank rehabilitates 1300 pavement dwellers in Chennai|url=http://indiacsr.in/equitas-small-finance-bank-rehabilitates-1300-pavement-dwellers-chennai/|website=India Corporate Social Responsibility Network|access-date=17 March 2018|date=2 March 2018}}</ref>

==Penalties==
On 1 March 2018, the bank was penalized ₹1 million (US${{To USD|1000|IND|round=yes}} thousand) by the Reserve Bank of India for rolling out investment, pension, and insurance services without obtaining prior approval.<ref>{{cite web |last1=Kattoor |first1=Jose J. |title=Reserve Bank of India imposes monetary penalty on Equitas Small Finance Bank Limited |url=https://www.rbi.org.in/Scripts/FS_PressRelease.aspx?prid=43327&fn=2745 |website=Reserve Bank of India |access-date=26 August 2018 |date=8 March 2018}}</ref><ref>{{cite news |last1=Banerjee |first1=Rumu |title=RBI penalised 12 banks for various violations in last 6 years |url=https://timesofindia.indiatimes.com/business/india-business/rbi-penalised-12-banks-for-various-violations-in-last-6-years/articleshow/64322972.cms |access-date=2 November 2018 |work=The Times of India |date=8 March 2018}}</ref><ref>{{cite news |title=RBI imposes Rs 10L fine on Equitas SFB for selling products without approval |url=https://economictimes.indiatimes.com/industry/banking/finance/rbi-imposes-rs-10l-fine-on-equitas-sfb-for-selling-products-without-approval/articleshow/63221349.cms |access-date=2 November 2018 |work=The Economic Times |date=8 March 2018}}</ref>

==Notes==
{{reflist|group=note}}

==See also==
{{Portal|Banks}}
* [[Banking in India]]
* [[List of banks in India]]
* [[Reserve Bank of India]]
* [[Small finance bank]]
* [[Indian Financial System Code]]
* [[List of largest banks]]
* [[List of companies of India]]
* [[Make in India]]

== References ==
{{reflist}}

== External links ==
* {{Official website|https://www.equitasbank.com/}}
{{Banking in India}}

[[Category:Small finance banks]]
[[Category:Financial services companies based in Chennai]]
[[Category:Banks established in 2007]]
[[Category:Indian companies established in 2007]]
[[Category:Private sector banks in India]]
[[Category:2007 establishments in Tamil Nadu]]

{{India-company-stub}}

Equitas Small Finance Bank - Revision history

CleanupBot II: Removed empty portal template using script

>BattyBot: Removed/fixed incorrect author parameter(s), performed general fixes

CleanupBot: /* External links */clean up, add source tag

>BrownHairedGirl: −Category:Companies based in Chennai; −Category:Companies based in Tamil Nadu per WP:SUBCAT