SURYODAY MICRO FINANCE BANK LTD

COMPANY NAME SURYODAY MICRO FINANCE BANK LTD
NATURE OF BUSINESS BANKING
ISIN NO INE428Q01011
FACE VALUE Rs.10/-
PROMOTERS R BHASKAR BABU & P SURENDRA PAIurendra Pai
COMPANY WEBSITE www.suryoday.com
suryoday

Suryoday Small Finance Bank is a new age bank that went live on January 23rd 2017. Our endeavour is to bring the best banking solutions to the ‘banked’, ‘under-banked’ and the ‘un-banked’ sections of the society. Our power packed solutions are designed to offer the choicest of benefits to suit different financial needs. As always, our focus will continue to be on ensuring the best in class ‘Customer Experience’.As a bank, we will, Continue to offer our existing credit products suite of MFI loans, Vikas Loans, Shopkeeper Loans etc. to new and current customers.

Offer digital banking as the key account differentiator to customers using the extensive seeding of Aadhar biometric identification system, NPCI’s payment systems and mobile technologies whilst continuing to explore banking through traditional channels.Focus on the unserved and the underserved through innovative banking practices and continue to expand reach in states where we currently don’t have a presence .

Suryoday – ‘Sunrise’ in Sanskrit, signifies a new dawn, a new beginning and this encompasses our strong commitment to financial inclusion. In the past, as Suryoday Micro Finance and now as Suryoday Small Finance Bank.Our journey from Micro Finance to a Small Finance Bank took just eight years. Today over a million ‘smiling customers’ stand testimony to our belief that ‘no matter what, dreams, when enabled will transform mankind and create a whole new world around’.

We are among the 10 companies and the only one from Maharashtra to obtain a ’Small Finance Bank’ licence from the Reserve Bank of India (RBI).The investors are HDFC BANK , HDFC Life, TIAA ,International Finance Corporation , KFW Deg,

Suryoday Small Finance Bank (Suryoday SFB), offers exciting career opportunities. Everyone who works at Suryoday shares a commitment to helping the customers we serve. Our values and operating principles drive our business decisions, guide our activities and focus our resources. Learn Suryoday SFB welcomes those who feel excited to be part of our journey as customer friendly bank & welcomes those who can commit to the goal of uplifting lives of its customer by offering a right product. And during this journey we help you to achieve your own career goals.

In 2013, the government of India passed Section 135, mandating companies with a certain turnover to spend 2% of their average profit for the past three years on corporate social responsibility (CSR). Driving the passage of the law was the intent to have the country’s businesses actively participate in the social development of the country.

Five years have passed since the law came into effect and CSR has emerged as an active participant in shaping India’s development history: while India surges forward economically on one hand, it also confronts developmental challenges that affect the length and breadth of the country. For a country of 1.3 billion, out of which approximately 23% live below the poverty line, urgency marks the need.

Suryoday Small Finance Bank has been at the helm of financial inclusion since 2008. As a microfinance institution in it’s earlier avatar, it was able to create an outreach of over 7 lakh micro borrowers. As a responsible lender, it has always deemed financial literacy important. The bank’s Corporate social responsibility (CSR) initiatives are focused on financial literacy initiatives. Over a period of time the programs have been strengthened to keep pace with central government initiatives such as Jan Dhan, Aadhaar and Mobile (JAM) framework and digital financial literacy drives.

Financial literacy is a key step toward achieving full financial inclusion. Our financial literacy programs aim to educate women from low-income households improves their ability to manage their personal and household finances and empowers them to become informed consumers of financial services. The financial literacy programs cover financial planning, cash flow and budgeting, savings, debt, insurance, investment and banking. We have adequately captured the recent developments in the payment space in the country through our digital financial literacy modules. The training programs are adapted keeping the audience in mind and are delivered in vernacular languages

In FY 19, 5800 plus programs were conducted covering 112000 plus beneficiaries on various aspects of financial literacy. Apart from Financial Literacy Programs, the bank’s CSR teams also focusses on preventive health camps. The CSR team conducted 680 plus health camps and more than 96000 community members benefitted from these camps in FY 19. Health camps covers preliminary health screening, eye checks, dental checks and mammograms. Health Awareness and healthy literacy programs are also undertaken very regularly with communities.

One of the initiatives with local communities on environmental protection is planting of tree saplings. Younger members of the communities are encouraged to participate in such activities. In FY 19 year close to 5000 plus saplings were planted.

These programs endeavor to address all segments of the society and are aimed at important social messages. Special programs are conducted eg Financial Literacy Week – an initiative by RBI, Children’s day, Women’s Day, World Environment day, Global Handwashing day etc al along with members of community. In FY 19 , around 12,000 plus was the outreach on these programs.

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