Utkarsh Bank

 History

        It is founded in 2016 by Govind Singh in Varanasi. He is the CEO & MD of the bank. This bank comes under micro banking segment.

Location

        It presence in 26 states of India with 830 branches. The branches located in Andhra Pradesh, Assam, Bihar, Chandigarh, Chhattisgarh, Delhi, Goa, Gujarat, Haryana, Himachal Pradesh, Jammu Kashmir, Jharkhand, Karnataka, Tamil Nadu, Kerala, Madhya Pradesh, Maharashtra, Meghalaya, Orissa, Pondicherry, Punjab, Rajasthan, Telangana, Uttar Pradesh, Uttarakhand and West Bengal.

Services

        It provide personal & Gold loans, deposit & savings accounts, and mutual fund Investment. It only provide loans for small & Short term. This bank did not provide credit cards.

Strength

        It holds 2 nd fastest growing bank in 2019 to 2022. It has 30 lakh costumers all over India. The total deposit of the bank is 10,074.18 crore in 31 march 2022.

Weakness

        It has operational risk like Fraud, Petty theft and Embezzlement, it increase the threat to handle significant amount of cash. It has Non performing assets than expected because, the borrowers reduce the ability to make timely repayment.  RBI debarred the banks statutory auditors from undertaking audit assignment.

IPO

        This bank enters into the IPO on 10th July 2023. The bidding date of the ipo is 12th July to 14th July 2023, with the price range of 23-25 rupees. It apply ipo for 500 crore.