Shivalik Small Finance Bank Limited has commenced operations as a small finance bank with effect from April 26, 2021.The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India.

Shivalik Mercantile Co-operative Bank Limited was granted an in-principle approval for transition into a small finance bank, as announced in the press release on January 6, 2020, under the “Scheme on voluntary transition of Urban Co-operative Bank into a Small Finance Bank” issued on September 27, 2018.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/110