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Suryoday Small Finance Bank – The beginning of a new era in ‘Inclusive Banking’


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).

Suryoday Small Finance Bank Ltd. – A “small” step in banking but a “big” leap for social inclusiveness.

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

Our Promoters

Mr. Baskar Babu Ramachandran

Baskar Babu Ramachandran is the Managing Director and Chief Executive Officer of our Bank. He has several years of experience in the banking and finance sector. Prior to co-founding Suryoday Micro Finance Private Limited, he was associated with various companies including GE Capital Transportation Financial Services Limited as
the vice-president - quality and operations and HDFC Bank Limited as assistant vice president. He holds a bachelor’s degree in mechanical engineering from the University of Madras and a master’s degree in business administration from the Pondicherry University. He has participated in the management development programme for strategic management for corporate leadership conducted by Indian Institute of Management, Calcutta.


Mr. P Surendra Pai

He has several years of experience in banking and finance. Previously, he was associated with Wipro Limited (Consumer Care and Lighting) as the vice-chairman and executive officer and the Murugappa Corporate Board (advisory board) as the executive chairman. He holds a bachelor’s degree in electrical engineering from University of Mysore and a post graduate diploma in industrial engineering from the Indian Institute of Technology, Madras.


Mr. P. S. Jagdish

He has several years of experience in electrical engineering industry. Previously, he was associated with Indian Transformer Manufacturers Associations as one of the founders and headed the organisation and Indo Tech Transformers Limited as executive director. He holds a bachelor’s degree in engineering (industrial production) from Manipal Institute of Technology, Manipal.


Mr. G. V. Alankara

He has several years of experience in financial services. He is currently associated with Old Bridge Capital Management Private Limited as a Director. He holds a master’s degree in business administration from the University of Cochin.


Board of directors

Mr. Ramachandran Rajaraman
Non-Executive Chairperson and Independent Director

Ramachandran Rajaraman is the Part-time Chairperson and Independent Director of our Bank. He holds a bachelor’s degree in science from the University of Madras, master’s degree in science from the University of Madras and a post graduate diploma in financial management from the University of Madras. He has over 38 years of experience in commercial banking and finance. He has served as a part time
non-official director of Deposit Insurance and Credit Guarantee Corporation and a member of the Advisory Board on Banks, Commercial and Financial Frauds of Central Vigilance Commission. Previously, he was associated with Small Industries Development Bank of India as a director, Andhra Bank as its chairperson and managing director, Syndicate Bank as an executive director and Indian Bank as a general manager.


Mr. Mrutyunjay Sahoo
Independent Director

Mrutunjay Sahoo is an Independent Director of our Bank. He is a retired Indian Administrative Services officer and has several years of experience in public administration. Previously, he was a special chief secretary to the Government of Andhra Pradesh and has been associated with several Maharatna and Miniratna public sector undertakings as a nominee director of the Government of India for Maharatna companies and non-official independent director of Government of India for a Miniratna company. He has been principal secretary to government of Andhra Pradesh (energy department) and associated with Transmission Corporation of Andhra Pradesh Limited, Andhra Pradesh Power Finance Corporation Limited and The Singareni Collieries Company Limited.


Mr. Jyotin Kantilal Mehta
Independent Director

Jyotin Kantilal Mehta is an Independent Director of our Bank. He holds a bachelor’s degree in commerce from the University of Mumbai and obtained first class with honours, is a fellow member of the Institute of Chartered Accountants of India and obtained third rank in the final examination, a fellow member of the Institute of Company Secretaries of India and a fellow member of the Institute of Cost and Works Accountants of India. He has over 35 years of experience in corporate laws. Previously, he was associated with ICICI Bank Limited as a general manager and company secretary, 3i Infotech Limited as senior general manager, Voltas Limited as the chief internal auditor, Bharat Shell Limited as the vice-president of finance and company secretary, and NOCIL Limited as the head of project finance.


Ms. Meena Hemchandra
Independent Director

Meena Hemchandra is an Independent Director of our Bank. She holds a master’s degree in arts from Madurai Kamaraj University. She is a certified associate of the Indian Institute of Bankers and is a Chartered Financial Analyst from the Council of the Chartered Financial Analysts, Hyderabad, India. She has undertaken the
RMA-Wharton Advanced Risk Management Program. She is a career central banker who retired as Executive Director from Reserve Bank of India in November 2017, after serving the organization for over 35 years.


Mr. John Arunkumar Diaz
Independent Director

John Arunkumar Diaz is an Independent Director of our Bank. He holds a bachelor’s degree in science (mathematics) from University of Madras and a post graduate diploma in business management from Xavier Labour Relations Institute, Jamshedpur. He has over 28 years of experience in multi-national banks based in India and overseas, as he was head of change and programme management in Standard Chartered Bank and was also designated credit professional by the Standard Chartered Bank. Additionally, he has over 18 years of experience as a consultant in banking services for several international institutions, including in Indonesia, Thailand and Mauritius by way of his previous association with Quest OntheFRONTIER Pte. Limited, iCube Consortium Pte Limited and Bain & Company SE Asia Inc., as consultant and his assistance to our Bank and Equitas Finance Private Limited (now known as, Equitas Small Finance Bank Limited), two microfinance companies in their transitions to small finance banks. Further, he has also been on the boards of companies in the venture capital, horticulture and agriculture sectors, an automated teller machine manufacturer and in two companies in the primary and secondary healthcare sector which he had promoted.

Mr. Venkatesh Natarajan
Nominee Director

Venkatesh Natarajan is an Investor Director of our Bank. He holds a bachelor’s degree in electronics and instrumentation engineering from Annamalai University, a master’s degree in engineering from Arizona State University and a master’s degree in business administration from Cornell University. He has several years of experience in venture capital and private equity in India and has been involved as an early investor in the microfinance sector in India. He has also worked with companies in healthcare, agriculture and financial inclusion sectors. He also co-founded and is currently the partner at Lok Advisory Services Private Limited.


Mr. Ranjit Shah
Nominee Director

Ranjit Shah is an Investor Director of our Bank. He holds a bachelor’s degree in electrical engineering from Indian Institute of Technology, Bombay and a master’s degree in business administration from the University of Michigan. He has several years of experience in sectors including private equity and financial services. Previously, he has been investor and entrepreneur. He also co-founded and is currently a managing partner at Gaja Capital.

Mr. Aleem Remtula
Nominee Director

Aleem Remtula is an Investor Director of our Bank. He holds a bachelor’s degree titled ‘baccalaurei cum laude in oeconomia’ from Princeton University and a master’s degree in business administration from Harvard Business School. He has several years of experience in venture capital and private-equity funds globally. Having started his career with JP Morgan Chase & Co, he is currently associated with DWM Asset Management LLC as a partner of the firm’s private equity business line.


Mr. Baskar Babu Ramachandran
MD & CEO

Baskar Babu Ramachandran is the Managing Director and Chief Executive Officer of our Bank. He has several years of experience in the banking and finance sector. Prior to co-founding Suryoday Micro Finance Private Limited, he was associated with various companies including GE Capital Transportation Financial Services Limited as
the vice-president - quality and operations and HDFC Bank Limited as assistant vice president. He holds a bachelor’s degree in mechanical engineering from the University of Madras and a master’s degree in business administration from the Pondicherry University. He has participated in the management development programme for strategic management for corporate leadership conducted by Indian Institute of Management, Calcutta.


Investors

Institutional Investors

HDFC
HDFC
HDFC

Development / Impact Funds

HDFC
HDFC
HDFC
HDFC

Private Equity

HDFC
HDFC
HDFC
HDFC
HDFC

IDFC First Bank and Kotak Mahindra Life Insurance Company Limited is also Investors.

Contact Details

Contact Email
For Institutional Investors inv.relations@suryodaybank.com
For Other Shareholders shr.relations@suryodaybank.com

Ratings

Agency Category Rating
ICRA NCD/Sub-Debt A(Stable)
ICRA CD Rating A1+
CRISIL CD Rating A1+

Milestones


  • Gross loan portfolio of ₹ 37,108.42 million with 477 branches and over 1.46 million customers as on March 31, 2020
  • Investments by Kotak Mahindra Life Insurance Company Limited and Teachers Insurance and Annuity Association of America in our Bank
2020

  • Expansion in the secured loan portfolio
  • Investments by DEG in our Bank
  • Received long-term rating of ‘[ICRA]A’ from ICRA and short-term rating of ‘A1+’ from CRISIL and short-term rating ‘[ICRA]A1+’ from ICRA
2019

  • New cluster of retail assets to provide finance for commercial vehicles, housing, MSME and loan against property upon initiating SFB operations
  • Received rating of ‘[ICRA]A1’ for certificate of deposit programme from ICRA
2018

  • Commenced operations as an SFB in January 2017
  • Included in second schedule to the RBI Act
  • Investment by Evolvence India Fund II Ltd, ResponsAbility Participations Mauritius, Jhelum Investment Fund I, Gaja Capital Fund II Limited, TVS-Shriram Growth Fund, and New Tech Investments Limited in our Bank
2017

  • Received rating of ‘[ICRA]A(-)’ for non-convertible debenture programmes from ICRA
  • Received RBI final Approval to commence its SFB operations
  • Investment by IDFC FIRST Bank Limited (previously known as IDFC Bank Limited), Polaris Banyan Holding Private Limited, ASK Pravi Capital Advisors Private Limited, Dr. Aaravind Srinivasan and Kiran Vyapar Limited in our Bank
2016

  • We became a public limited company in June 2015
  • 159 branches and 0.49 million customers as on March 31, 2015
  • Received in-principle approval from RBI to establish an SFB
  • Investment by DWM (International) Mauritius Ltd in our Bank
2015

  • Investment by IFC in our Bank
  • Received listing permission from BSE in wholesale debt segment to issue debt securities
2014
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  • Investment by Lok Capital II LLC in our Bank
2013
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  • Investment from HDFC Holdings Limited and HDFC Standard Life Insurance Company Limited in our Bank
2012
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  • Received RBI license for establishing an NBFC and commenced microfinance operations
  • Investment by Aavishkaar Goodwell India Micro Finance Development Company Limited in our Bank
2009
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  • Incorporation of Suryoday Micro Finance Private Limited, founded and promoted by Baskar Babu Ramachandran, Ganesh Rao and V. L. Ramakrishnan
2008


Our Bank Branch Network

Corporate & Registered office
Suryoday Small Finance Bank Limited

1101, Sharda Terraces,
Plot 65, Sector 11, CBD Belapur,
Navi Mumbai- 400 614
Email: info@suryodaybank.com

Branch timings
Monday to Saturday:
9:30am to 4:00pm.
2nd and 4th Saturday: Holiday.

State wise Inclusive Finance Branch Network. Please Click Here.

Work With Us

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.

We Offer
01 Ample opportunities to challenge your mind.
02 Sound rewards & recognition
03 Opportunities to enhance your skills and leadership traits
04 An open and friendly work environment

The Suryoday Way

Suryoday A Bank of Smlies – We aim to be a reason for our customer’s smiles

Customers are at the heart of our business. By using our skills, resources and people effectively we believe we can deliver superior experience for our customers.

We will create the best customer experience by continuing to rebuild trust with our customers, providing a reliable, consistent and convenient service. We will transform our digital capability, providing customers with simpler, seamless interactions across online, mobile and bank branches and improving the efficiency of products and services.

Corporate Social Responsibility

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.

Seven 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 22% 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.

Some of the areas which our Social Initiative Team is involved in include :
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Suryoday Small Finance Bank Ltd. CIN No: U65923MH2008PLC261472
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