Mumbai, 17th September 2024: Suryoday Small Finance Bank (SSFB), a leading new-age digital bank in India, marked its presence in the country’s pink city by opening its first retail banking branch in the state. This marks SSFB’s 120th retail banking branch across India, adding to the fleet of 723rd banking touchpoints. The strategic expansion marks a significant milestone for the bank as it continues to expand its footprint in the northern part of the country. Jaipur, known for its Tourism, trade & commerce, and local handicraft industries, offers a potential market for SSFB to serve the growing needs of the economically vibrant city. The new branch was inaugurated by the MD & CEO of SSFB, Baskar Babu Ramachandran, along with Rajendra Setia – MD & CEO of SK Finance Ltd, in the presence of other eminent BFSI personalities, including Mohit Sahney, MD & CEO- Finova Capital Pvt Ltd, and Varun Kogta, ED & CFO from Kogta Financial India Limited.
Situated in the center of the ‘Pink City’ Jaipur – Ashok Marg, an important hub for trade and commerce, the new branch will have a dedicated focus on priority sectors and retail segments of micro and small enterprises along with senior citizens, offering diversified product offerings ranging from savings accounts, current accounts, fixed deposits, mortgage loans, two-wheeler loans, commercial vehicle loans, etc. Notably, SSFB offers one of the highest interest rates for term deposits, up to 9.10% p.a., among its peers.
Speaking on the auspicious occasion, Mr. Baskar Babu Ramachandran, MD & CEO Of Suryoday SFB, said, “At SSFB, we are pleased to open our very first retail banking branch in the state, and it signifies our commitment to expand the footprint in northern India. We remain dedicated to investing in our branches, people, and technology to serve the economy better.
He further added, “The strong economy of the capital city provides a significant market with a high potential for credit and deposits. With our unwavering commitment to offer exceptional customer service, we are dedicated to making each customer feel valued and important, which reflects the philosophy of the bank and also enables us to cater to the region’s growing financial needs.”
In a recent analysis done by Colliers, Jaipur was featured among 100 cities with humongous growth potential in the next 5-6 years, driven by factors such as a growing population, increasing GDP per capita, rising propensity for online purchases, and growing adoption of digital payments.
Earlier this year, with the customer base reaching nearly 30 lakhs as of June 2024, SSFB extended its footprints in NCR by opening banking branches across prime locations in Delhi and Gurgaon. With a customer-centric approach to digital banking and an aim to provide digital innovation, the bank has been at the forefront of partnering with new-age fintech companies, including Paynearby, Blostem, Mobikwik, and Tarrakki, among others, to offer digital fixed deposits. The bank’s growing network is supported by a dedicated team of 8000+ employees across 15 States & UTs.
