RBI issues small finance bank licence to Centrum and BharatPe combine

The Reserve Bank of India (RBI) issued a Small Finance Bank (SFB) license to the consortium of Centrum Financial Services, and Digital payments platform BharatPe, said two people familiar with the matter. A new bank license has been issued after a gap of nearly 6 years, and we thank the RBI for the confidence shown in the abilities of Centrum and BharatPe. RBI and Centrum-Bharat could not be contacted immediately for comments. The new bank is christened as “Unity Small Finance Bank”. Centrum is expected to make a formal announcement Tuesday late evening.

News Source:- https://economictimes.indiatimes.com/industry/banking/finance/rbi-issues-small-finance-bank-licence-to-centrum-and-bharatpe-combine/articleshow/86968439.cms