Latest News on Equitas Bank
Bharti AXA and Equitas Small Finance Bank join forces to expand life insurance reach in rural India
As a valued partner, we invite you to explore the various ways we can collaborate to promote your company and connect with your target audience. Our team of experts is dedicated to helping you design and create a comprehensive advertising campaign that spans both print and digital media. This includes advertising on our website and in our print magazine, ensuring maximum visibility and reach for your brand.
In addition to advertising, we also specialize in organizing real-life and digital events tailored to your specific needs. Our events bring together thought leaders and industry experts, providing a unique opportunity for you to network and potentially partner with like-minded professionals. We can help you find the perfect speakers and attendees to make your event a success.
Another way to elevate your brand’s profile is through our awards programs. These programs recognize and celebrate outstanding achievements within the industry, and by participating or sponsoring, you can gain valuable recognition and credibility. Our awards programs provide a platform for you to showcase your success and demonstrate your expertise, helping to drive your business forward.
By partnering with us, you can tap into our expertise and resources to create a customized marketing strategy that meets your unique goals and objectives. We are committed to helping you drive your business forward and achieve success. Whether through advertising, events, or awards programs, we are dedicated to providing you with the support and guidance you need to connect with your customers and grow your business.
Our team is passionate about helping businesses like yours thrive, and we believe that a good partnership is key to achieving this goal. By working together, we can help you increase your visibility, build your brand, and ultimately drive sales and revenue. So why not get in touch with us today to explore the many ways we can work together to help you achieve your business objectives? With our expertise and your vision, we can create a powerful partnership that drives your business forward and helps you succeed.
Senior citizens can earn up to 8% interest rate on 5-year fixed deposits; compare the top FD rates offered by public, private, and small finance banks
For senior citizens seeking stable and fixed income, there are still attractive fixed deposit (FD) options available, despite many leading banks and small finance banks slashing their FD interest rates. Currently, a few banks offer FD rates of up to 8% on their five-year senior citizen FDs. The interest rates vary among public and private sector banks, as well as small finance banks, for FDs of the same duration.
Small finance banks offer the highest five-year FD interest rates for senior citizens, with Suryoday Small Finance Bank providing an 8% interest rate, followed by Jana Small Finance Bank at 7.77%, and Ujjivan Small Finance Bank at 7.7%. Other small finance banks, such as Utkarsh Small Finance Bank, Equitas Small Finance Bank, and AU Small Finance Bank, offer interest rates ranging from 7.5% to 7.25%.
Among private sector banks, IDFC Bank, Yes Bank, and SBM Bank India offer a 7.5% interest rate each on their five-year fixed deposits for senior citizens. Other private sector banks, such as DCB Bank, Axis Bank, and RBL Bank, offer interest rates ranging from 7.25% to 7.1%.
Public sector banks also offer competitive interest rates, with State Bank of India providing a 7.05% FD interest rate on its five-year senior citizen FD. Bank of Baroda offers a 6.9% rate, while Bank of India and Canara Bank offer a 6.75% rate each on their five-year FDs for senior citizens.
Overall, senior citizens have a range of options to choose from, with interest rates varying from 8% to 5.5% depending on the bank and the duration of the FD. It is essential for senior citizens to compare the interest rates and terms offered by different banks to make an informed decision that suits their financial needs. By choosing the right FD option, senior citizens can ensure a stable and fixed income, which can help them manage their expenses and maintain their standard of living.
India’s Microfinance Sector Contracts to a 4-Year Low as Lenders Exercise Increased Caution
The Indian microfinance sector has experienced a significant decline in its loan portfolio, reaching its lowest point in four years at ₹3.40 lakh crore as of November 2024. This contraction is a result of lenders’ deliberate efforts to minimize asset quality risks, which has led to a decrease in overall loans despite increased disbursals. The sector’s decline, which began in April 2024, reflects the cautious approach of financial institutions operating in this segment.
Despite the downturn, there are signs of an emerging recovery. Some small finance banks, such as ESAF, Equitas, and Ujjivan, have reported sequential growth in their micro loan portfolios in the December quarter, breaking a period of stagnation. CreditAccess Grameen, the largest NBFC-MFI, also saw an increase in its gross loan portfolio. Additionally, Federal Bank’s managing director noted that slippages peaked in May and have declined monthly since then, indicating improving asset quality.
However, the sector still faces challenges, particularly among small and mid-sized NBFC-MFIs, which struggle with access to funding. Larger players, on the other hand, have more stable funding positions, enabling them to plan for disbursement increases in the next fiscal year. India Ratings & Research has upgraded the sector’s outlook to neutral from deteriorating, projecting a stable rating for FY27. The agency believes that the sector has largely navigated the significant headwinds faced in FY25-FY26, with borrower overleverage and asset quality concerns diminishing.
Looking ahead, the sector is expected to focus on individual and non-MFI loans, as well as scaling up credit-guarantee backed disbursements to bolster risk buffers. This sets the stage for a recovery year in FY27, with lenders expected to adopt more aggressive growth strategies. Overall, while the Indian microfinance sector is still facing challenges, there are indications of a potential turnaround, driven by improving asset quality and a more stable funding environment. A broad-based sector recovery is anticipated from March 2026, with larger players leading the way.
Indian Small Finance Banks Drive Employment Growth, Adding 26,736 New Jobs in FY25, According to scanx.trade
The Indian banking sector has witnessed significant job creation in the financial year 2024-2025, with Small Finance Banks (SFBs) taking the lead. According to a recent report, SFBs have created a total of 26,736 net new jobs in FY25, outpacing other banking segments. This impressive hiring spree is a testament to the growing importance of SFBs in the Indian banking landscape.
The significant expansion of SFBs can be attributed to their increasing focus on financial inclusion and outreach to underserved populations. These banks have been instrumental in providing banking services to rural and semi-urban areas, where traditional banks have limited presence. As a result, SFBs have been able to tap into the vast untapped market, leading to rapid growth and job creation.
The top SFBs that led the hiring charge in FY25 include Ujjivan Small Finance Bank, Equitas Small Finance Bank, and AU Small Finance Bank. These banks have not only expanded their branch networks but also invested heavily in digital infrastructure, enabling them to reach a wider audience and create new job opportunities.
The job creation by SFBs has been across various functions, including sales, marketing, customer service, and operations. The hiring has been focused on building a strong team to support the banks’ expansion plans and improve customer experience. The new recruits will be instrumental in driving business growth, improving operational efficiency, and enhancing customer satisfaction.
The growth of SFBs is expected to continue in the coming years, driven by the government’s push for financial inclusion and digital payments. The Indian government has set an ambitious target of achieving 100% financial inclusion, and SFBs are expected to play a crucial role in achieving this goal. As a result, the job creation in the SFB sector is likely to sustain, providing opportunities for job seekers in the banking and financial services industry.
In conclusion, the Small Finance Banks have emerged as a major driver of job creation in the Indian banking sector, with 26,736 net new hires in FY25. The growth of SFBs is a positive indicator of the Indian economy’s potential for financial inclusion and job creation. As the government continues to push for digital payments and financial inclusion, the SFB sector is expected to continue its expansion, creating new job opportunities and driving economic growth.
Manish Agrawal Resigns as CFO of Equitas Small Finance Bank, Reports BW People
Manish Agrawal, the Chief Financial Officer (CFO) of Equitas Small Finance Bank (SFB), has resigned from his position. This development has been reported by various media outlets, including BW People.
Agrawal’s departure from the bank comes as a significant change in the bank’s leadership. As the CFO, he played a crucial role in shaping the bank’s financial strategy and overseeing its financial operations. His resignation may have implications for the bank’s future plans and growth prospects.
Equitas SFB is a small finance bank that was established in 2016. The bank has been working to expand its operations and increase its customer base. Under Agrawal’s leadership, the bank had made significant progress in improving its financial performance and strengthening its balance sheet.
The reasons behind Agrawal’s resignation are not clear. It is possible that he may be moving on to pursue other opportunities or that there may be differences in vision or strategy between him and the bank’s management. Whatever the reason, his departure is likely to be felt within the organization.
The bank will now need to find a suitable replacement for Agrawal. This could be a challenging task, given the importance of the CFO role and the need for someone with the right skills and experience. The bank’s board of directors and management team will likely be working to identify a suitable candidate and ensure a smooth transition.
Agrawal’s resignation is a significant development in the Indian banking sector. It highlights the challenges that banks face in retaining top talent and the need for effective succession planning. As the banking sector continues to evolve, it is likely that we will see more changes in leadership and management teams.
In the coming days and weeks, it will be interesting to see how Equitas SFB navigates this transition and who will be appointed as the new CFO. The bank’s investors and customers will be watching closely to see how this change affects the bank’s performance and future prospects.
Overall, Manish Agrawal’s resignation as CFO of Equitas SFB is a significant development that highlights the challenges and opportunities faced by the Indian banking sector. As the sector continues to evolve, it is likely that we will see more changes in leadership and management teams, and it will be interesting to see how these changes play out.
Stock Market Updates of Equitas Bank
Recent Updates
Equitas Small Finance Bank Bolsters Executive Team with Appointment of New President of Finance, as reported on scanx.trade
Equitas Small Finance Bank has announced the appointment of a new President-Finance, strengthening its leadership team. This move is expected to enhance the bank’s financial management and strategy, driving growth and expansion. The new President-Finance brings a wealth of experience in banking and finance, with a proven track record of success in previous roles.
The appointment is seen as a significant step forward for Equitas Small Finance Bank, which has been expanding its operations and services in recent years. The bank has been focusing on digital transformation, improving customer experience, and increasing its reach in underserved markets. The new President-Finance is expected to play a key role in driving these initiatives and ensuring the bank’s long-term sustainability.
Equitas Small Finance Bank has been committed to providing financial services to the underserved and unbanked populations in India. The bank has a strong presence in rural and semi-urban areas, with a network of branches and banking outlets. The new President-Finance will be responsible for overseeing the bank’s financial planning, budgeting, and risk management, as well as driving business growth and expansion.
The appointment is also seen as a testament to the bank’s commitment to attracting and retaining top talent. The new President-Finance joins a team of experienced professionals who are dedicated to driving the bank’s mission and vision. The bank’s leadership team is expected to work closely with the new President-Finance to ensure a smooth transition and to drive the bank’s future growth.
In terms of the bank’s financial performance, Equitas Small Finance Bank has been reporting strong growth in recent years. The bank’s net profit has been increasing consistently, driven by a strong loan book and improving asset quality. The bank’s capital adequacy ratio is also strong, providing a comfortable cushion for future growth.
Overall, the appointment of a new President-Finance is a positive development for Equitas Small Finance Bank, demonstrating the bank’s commitment to strengthening its leadership team and driving future growth. With a strong leadership team in place, the bank is well-positioned to continue its expansion and to achieve its mission of providing financial services to the underserved and unbanked populations in India. The bank’s focus on digital transformation, customer experience, and financial inclusion is expected to drive long-term sustainability and growth, making it an exciting time for the bank and its stakeholders.