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Capital Small Finance Bank Limited, India's 1st Small
Finance Bank, started operations on April 24, 2016. Capital Local Area
Bank along with nine other entities was granted in-principle approval by
the Reserve Bank of India to set up 'Small Finance Bank' on September
16, 2015. Capital Local Area Bank, the largest Local Area Bank in the
country, before conversion to 'Small Finance Bank' has been into
operations for last 16 years with excellent performance in all spheres.
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Capital Small Finance Bank Limited, India's 1st Small Finance Bank,
started operations on April 24, 2016. Capital Local Area Bank, along
with nine other entities, was granted in-principle approval by the
Reserve Bank of India to set up 'Small Finance Bank' on September 16,
2015.
Capital Local Area Bank, the largest Local Area Bank in the country,
before conversion to 'Small Finance Bank' has been into operations for
last 16 years with excellent performance in all spheres. The Bank has
been operating in three contiguous Districts of Jalandhar, Kapurthala
and Hoshiarpur in Punjab for the initial 13 years. In January 2013, the
Reserve Bank of India accorded the approval for expansion in the Bank's
area of operation to two more Districts of Ludhiana and Amritsar in
Punjab.
The Bank pioneered in bringing modern banking facilities to the rural areas at low cost. From day one 7-Day Branch Banking was introduced with extended banking hours. The focus to serve common man and the local touch advantages has given the Bank a competitive edge over other banks operating in the region. Within a short period,most of the branches becomes market leaders of their respective centres. The Bank is providing a safe, efficient and service oriented repository of savings to the local community while reducing their dependence on moneylenders by making need based credit easily available.
The Bank transitioned from a Local Area Bank to Small Finance Bank with 47 branches. 36 new branches have become operational since then, taking the total number of branches to 83 (42 Rural, 28 Semi Urban, 9 Urban and 4 Metropolitan). During the current financial year, expansion has been planned to the States of Haryana and Delhi along with other parts of Punjab.
Capital Small Finance Bank has been granted Scheduled Status by the
Reserve Bank of India vide Notification dated February 16,2017.
The total business of the Bank at present has crossed Rs.4200 crores
with more than 4,75,000 accounts. The Bank has 80% of its business in
rural and semi urban areas, with Priority Sector Lending of 84.96% of
the Adjusted Net Bank Credit as on March 31, 2017. The Bank is extending
loans primarily to small borrowers and 53.00% of the total advances are
up to the ticket size of Rs.25 lacs as on March 31, 2017.
Conversion of the Bank to Small Finance Bank has removed the
geographical barriers for expansion. This will result in exponential
growth of the Bank in all spheres. The business of the Bank is expected
to grow to Rs.12,000 crores by March 31, 2021.
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