Utkarsh Micro Finance gets RBI approval for small finance bank:

Micro Finance Pvt. Ltd on Monday received the final licence from the Reserve Bank of India (RBI) to set up small finance bank.

Among 10 in-principle licence holders, six entities have received the final nod so far.

Janalakshmi Financial Services Pvt. Ltd, Disha Microfin Pvt. Ltd, RGVN (North East) Microfinance Ltd and Au Financiers (India) Ltd are yet to receive the final nod.

All small finance bank licence holders need to start operations by March 2017 before the in-principle approval lapses.

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