Ujjivan SFB Launches Neighbourhood Banking Channel

Ujjivan SFB Launches Neighbourhood Banking Channel
PTI - 07 December 2020

Mumbai, Dec 7: Ujjivan Small Finance Bank on Monday said it has introduced a new channel to make banking services accessible to customers in their neighbourhood.

The channel - Money Mitra - will facilitate entrepreneurs running local businesses like Kirana, medical stores and insurance agencies to offer retail banking solutions to the bank's customers exclusively.

In these outlets, the lender's customers can make a deposit, withdraw money, pay loan EMI and perform fund transfer without having to travel to branches, the bank said in a release.

"We believe that Money Mitra is in-line with our purpose of building banking behaviour specifically among our micro banking customers. Now, Ujjivan SFB customers can opt for banking facilities even if they go to buy daily essentials in their neighbourhood," the bank's managing director and CEO Nitin Chug said.

The bank has established over 100 Money Mitra outlets across the country and plans to scale up further.