
Growing Operational Efficiencies
Effectively
ACROSS ALL OUR BUSINESS SEGMENTS, OUR STRATEGIC INITIATIVES HAVE ALLOWED US TO NAVIGATE THE EVER-CHANGING OPERATING LANDSCAPE, AND POSITIONED US TO SEIZE EMERGING OPPORTUNITIES.
EMPOWERING
COMMUNITIES WITH
SEAMLESS BANKING
WE ARE COMMITTED TO IMPROVING THE LIVES OF THOSE IN THE INFORMAL SECTOR, ALIGNING WITH INDIA'S GOALS FOR FINANCIAL AND DIGITAL INCLUSION. WITH A NATIONWIDE CUSTOMER BASE, WE ARE STRONGLY COMMITTED TO OFFERING EXTENSIVE BANKING SERVICES TO THOSE WHO NEED THEM THE MOST. OUR SPECIALLY TAILORED PRODUCTS AND SERVICES CATER TO THEIR REQUIREMENTS FOR FINANCIAL SECURITY, LIQUIDITY, AND ACCESSIBLE BANKING FACILITIES TOWARDS PROMOTING FINANCIAL PROSPERITY.

MicroBanking Dashboard
₹ 20,906 Crores
GROSS LOAN BOOK
₹ 17,772 Crores
DISBURSEMENT

10.5% YoY
₹ 2,857 Crores
DEPOSITS

34% YoY
47.15 Lakhs
ACTIVE CUSTOMERS
99%
COLLECTION EFFICIENCY
(1 EMI+OD)

OF FY 2022-23
Big Picture
Micro Lending in India has a rich history, with rapid expansion since the early 2000s, thanks largely to the emergence of Micro Finance NBFCs. Over time, we've witnessed the advent of Small Finance Banks and increased participation of major private sector banks in this sector. Despite facing external shocks, the industry has displayed remarkable resilience and has become one of the fastest-growing and most profitable segments of the lending business. MicroBanking has significantly improved the lives of countless families served by the financial sector.
As of March 2023, the Gross Loan portfolio in Micro Finance surpassed ₹ 5 Lakh Crores, catering to over 13 Crores borrowers. This marked a substantial increase compared to the portfolio of ₹ 51,773 Crores and approximately 7 Crores borrowers in March 2012. In just over a decade, the borrower base has multiplied by 2x and the portfolio by 10x since 2012. It's worth noting that the rapidly growing 'Individual Loan' portfolio is not included in these figures due to the absence of a reliable industry source.
With a robust lending infrastructure and a suite of technologically-driven banking services, we are adeptly seizing vast opportunities in both the un-served and the under-served markets. Our strategy of delivering comprehensive banking solutions through digital channels, complemented by our established network of branches and field personnel, is unlocking significant business potential. Our field staff consistently sets industry standards for productivity while our deposit base within the sector continues to grow, thus fostering value creation throughout the ecosystem. The digitisation of MicroBanking serves as a transformative catalyst, leveraging interoperable technology to bolster outreach, adoption, and transaction volumes, with nearly 30% of our customer base opting for cashless repayment methods. Through the rapid integration of digital solutions, ongoing innovation, and the unwavering dedication of our field staff, we have generated substantial value across the ecosystem in the past fiscal year.
In our Group Loan offerings, our primary focus in FY 2023-24 was on fortifying internal controls. We implemented various features such as geo-fencing, geo-tagging, de-duplication, and KYC validations during the sourcing stage. Additionally, we prioritised enhancing process efficiency, reducing turnaround times (TAT), and streamlining the process from sourcing to disbursement. This included the introduction of same-day disbursement, enabling loans to be disbursed on the day of sourcing. To address customers' needs regarding smartphone purchases, we introduced Smartphone Loans as a second Top-up Loan option. Furthermore, to enhance staff productivity, we refined the LOS system (GLOW) by automating data entry fields.
In Individual Loans, we focussed on gaining momentum to reach new heights. During FY 2023-24, we offered various loan types to meet the evolving needs of our customers, including Business Loans (for micro-entrepreneurs' working capital & capital investments), Livestock Loans (for purchase and maintenance), Agriculture Loans (for agricultural working capital), and Home Improvement Loans (for renovation and repair work). FY 2023-24 marked a year of significant growth and strategic advancements for our Individual Loans portfolio, with a focus on transitioning Group Loan customers to Individual Loans and expanding our reach in the open market by acquiring new customers.
The Hello Ujjivan App, a voice-based application in local languages, bridges the literacy gap, empowering non-tech-savvy customers. The loan acknowledgement feature introduced in FY 2023-24 saves customers valuable time and reduces branch visits, enabling Group Loan customers to consent to their loan requests via the app, eliminating the need to visit Ujjivan SFB Branches for Repeat and Top-up Loan acceptance.
In an effort to provide sustainable pension solutions, we introduced the Atal Pension Yojana. Our commitment to delivering comprehensive banking and financial services is evidenced by successfully offering Micro TPP products to 66,829 customers and processing the highest number of claims in the last fiscal year. To further promote financial and digital inclusion and expand banking outreach to the un-served and the under-served segments, we initiated the Business Correspondent (BC) channel, extending Group Loan (GL) and Individual Loan (IL) services through Business Correspondents (BCs). In FY 2023-24, we entered into agreements with three partners.
Our Gold Loan segment is experiencing rapid growth, catering to the financial needs of our customers with a strong overlap with the Bank's focus areas. It is a liquid collateral-based product witnessing growth in organised segments. Our focus lies on both existing and new-to-bank customers from the unorganised Gold Loan market, ensuring sustained growth and market penetration.
Product Suite
Group Loans
Core Loans
- Business Loan
- Agriculture and Allied Loan
- Family Loan
- WATSAN Loan
Top-up Loans
- GL Top-up Loan
- Emergency Loan
- Smartphone Loan
Individual Loans (IL)
Unsecured IL
- Individual Business Loan
- Home Improvement Loan
- Individual Agri Loan
- IL Top-up Loan
Secured IL
- Secured Livestock Loan
Government Initiatives
- PM Mudra Yojana Loans
- National Urban Livelihoods Mission (NULM)
- Credit to Minority Customers
- Credit to Scheduled Caste and Scheduled Tribe Customers
- PM SVANidhi
- GECL (ECLGS)
Other Products
- Gold Loan
Deposits
- Sampoorna Nidhi
- Sampoorna Lakshya
Key Highlights of FY 2023-24
- Implemented ‘Same Day Disbursement’, reducing minimum TAT for loan disbursement to one day for repeat and Top-up Loans, and two days for fresh loans
- Enhanced control in Group Loan sourcing with ge-fencing, geo-tagging, de-dupe, and KYC validation
- Revamped ‘Aakarshan’ advantage to boost new customer acquisition, enabling NTB customers to access higher ticket size loans
- Prioritised enhancing value proposition for existing Group Loan customers through tailored loan journeys, resulting in increased retention and streamlined processes
- Introduced Smartphone Loans for Group Loan customers to facilitate smartphone access, promoting financial inclusion
- Implemented Udyam Assist Platform, improving the URN generation process for micro-entrepreneurs
- Hello Ujjivan app downloads surpassed 7.83 Lakhs, with 36% of Top-up and Repeat loans acknowledged via the app
- Recognised for Atal Pension Yojana drive with Certificate of Par Excellence by Pension Fund Regulatory & Development Authority (PFRDA)
- Ujjivan Pay QR reached over 4 Lakh customers, with a fund inflow of ₹ 683 Crores
- Signed MoU with Water.org to promote public health and environmental sustainability
- Launched special credit facilities for minorities, SCs, and STs to address financial inclusion challenges
- Increased outreach in under-banked regions through MB led branches and BC partnerships
- Launched various schemes to cater to Gold Loan customer requirements, achieving TAT of 40 minutes for new-to-bank customers and 20 minutes for existing-to-bank customers
Road Ahead
Going forward, we are aligning our technological infrastructure to support growth. Our focus on bolstering customer retention includes offering pre-qualified and Loyalty Loans to Group Loan customers, supported by initiatives like implementing e-signature and automating disbursement through Robotic Process Automation to reduce Turnaround Time (TAT). Simultaneously, we're scaling up our ‘Aakarshan’ offering with a rule engine at the sourcing stage to enhance customer stickiness.
In Individual Loans, our strategy involves digitising the loan journey and leveraging partnerships with Micro-Entrepreneurs' Agents to reach non-tech savvy customers through third-party data. Empowering customers with a self-initiated loan application process is part of our plan, alongside cashless initiatives such as NACH, SI, BBPS, and UPI in Hello Ujjivan to achieve 100% cashless repayment.

Under Government initiatives, we're expanding financial products with inclusivity in mind, launching loans under the PM Vishwakarma scheme and rolling out the third tranche of PM SVANidhi while enhancing system integrations with Nodal institutions. Collaborations with SIDBI and Haqdarshak for a comprehensive digital literacy programme are also in progress.
In the Gold Loan segment, ensuring business consistency over the long term is a priority. Augmenting current sourcing channels with DSA, BC, and exploring partnerships with fintech and channel partners will increase customer reach. Enhancing digital infrastructure to streamline insurance claims and revolutionising RD offerings with innovative features are strategic initiatives. Enhanced RD products will be customised to cater to diverse customer needs, with the Hello Ujjivan app upgraded to offer Individual Loans and UPI integrations.
Expanding our network of BC agents for doorstep banking services, increasing Money Mitra channels, and onboarding new BCs are underway, all aimed at delivering the highest standard of customer service to marginalised communities and positioning Ujjivan SFB as the one-stop solution for all banking and financial needs.
EXTENDING
PROGRESS TO THE
GRASSROOTS
OUR AGRICULTURE & RURAL BANKING VERTICAL IS COMMITTED TO SERVING THE UN-SERVED AND THE UNDER-SERVED POPULATION. OUR UNBANKED RURAL CENTRE (URC) BRANCHES ARE DEDICATED TO ENHANCING THE LIVES OF CUSTOMERS BY PROVIDING ACCESS TO A COMPREHENSIVE RANGE OF BANKING AND FINANCIAL SERVICES. THE RURAL BANKING STAFF GOES ABOVE AND BEYOND BY OFFERING DOORSTEP SERVICES, MAKING BANKING MORE CONVENIENT FOR CUSTOMERS AND IMPROVING THEIR OVERALL EXPERIENCE.

Agriculture & Rural Banking Dashboard
3.78 Lakhs
BORROWER BASE

26% YoY
₹ 86.01 Crores
SECURED AGRI LOAN PORTFOLIO

145% YoY
₹ 463.9 Crores
LIABILITY BOOK

42% YoY
₹1,648 Crores
TOTAL ASSET PORTFOLIO

COMPARED TO FY 2022-23
Big Picture
Rural India is seeing increasing income levels, awareness, has an aspirational population leading to demand for products & services. Increase in discretionary spending is being witnessed with all brands making inroads into the hinterland. Governments and financial institutions recognise its importance and are spending on expanded infrastructure, presence and delivery of services through innovative technological solutions. Challenges such as limited connectivity and low literacy rates are being countered by Govt-Private Partnership, and efforts of corporate India.
Banking is key component for economic development in rural areas, offering formal source of capital with tailored banking and financial products like segment specific Savings account, Loans and Protection Products. Ujjivan SFB sees a huge opportunity in Rural India through its extensive network of low-cost branches, partner outlets and touch points.
One of the crucial product of Rural Banking is secured agriculture loan offered under the flagship umbrella of Kisan Pragati Card. This product addresses the credit requirements of individual farmers involved in Agriculture and Agri. Allied activity. To further support farmers engaged in poultry and freshwater fish farming, customised variants under Kisan Pragati Card Loan is introduced namely: KPC-Poultry and KPC Pisciculture. These variants are specifically designed to meet the unique needs of farmers involved in poultry and freshwater fish farming.
Product Suite
- Kisan Pragati Card Loan caters to the credit requirement of farmers for carrying out agriculture and agri. allied activities
- Additionally, below list of variants are offered to cater to the specific needs of farmers, which includes both working capital and term loan facilities;
- KPC - Crop Loan
- KPC - Poultry Loan
- KPC - Pisciculture Loan
- Kisan Abhimaan Loan
Road Ahead
FY 2024-25 and FY 2025–26 are poised for a quantum leap in agriculture assets aimed at deepening the geographical reach in rural India, often referred to as 'Bharat.' This strategy is underpinned by robust growth in the agriculture portfolio, coupled with a focus on 'Banking with Ujjivan' emphasis and cultivating customer relationships.
Key Highlights of FY 2023-24
- Focussed on diversifying our portfolio, expanding geographically, along with penetrating deep into the existing geographies, and enhancing product policies
- This involved establishing 31 new branches across , Gujarat, Rajasthan, Odisha, West Bengal, Tamil Nadu, and Karnataka
- Extending Agricultural Loan business to Bihar, Uttar Pradesh, and Odisha
- Focus on rural liability solutions for women & cooperatives along with assets
- Digital sourcing of agriculture loans in deep rural
- Per-person productivity improvement
- Increase in revenue per employee
- Low employee attrition
EMPOWERING
INDIA’S GROWTH
THROUGH MSME
AS THE INDIAN ECONOMY NAVIGATES VUCA2 CONTEXT OF GLOBAL MARKETS, THE COUNTRY’S MSME HAVE HELPED IT THRIVE THROUGH THE TURBULENT TIMES. TODAY, THEY ACCOUNT FOR CLOSE TO 50% OF ALL EXPORTS, ONE-THIRD OF NATIONAL GDP AND NEARLY ONE-FIFTH OF OVERALL EMPLOYMENT.

2 VUCA: abbr. Volatility, Uncertainity, Complexity, and Ambiguity
MSME Dashboard
9,000+
TOTAL BORROWER BASE
₹326 Crores
DISBURSEMENT WORTH
₹1,414 Crores
OUTSTANDING PRINCIPLE
₹50 Crores
LIABILITY BOOK
Big Picture
The Indian economy relies significantly on Micro, Small, and Medium Enterprises (MSMEs), which contribute to over 30% of the GDP and employ 11 Crore individuals. Despite their pivotal role, a mere 16% of MSMEs have access to formal finance, as per a report by the National Sample Survey Organisation (NSSO). This glaring gap presents a substantial opportunity for banks willing to cater to the financing needs of these enterprises. Recognising this potential, banks can position themselves as catalysts for the growth and stability of MSMEs by offering tailored financial solutions. Recent data from the Reserve Bank of India (RBI) highlights this potential, indicating an impressive 11.2% year-on-year growth in Priority Sector Loans extended to Micro and Small Enterprises (MSEs) by scheduled commercial banks in December 2022. This surge in credit provision underscores the increasing financial support for MSMEs, reflecting a positive trend towards their growth and development
India's MSME sector is not just a driver of economic progress, it is integral for achieving a holistic, inclusive, and sustainable growth trajectory. Ujjivan Small Finance Bank recognises its significance and expanded its product portfolio to cater to the diverse needs of the MSME sector, while improving accessibility and service quality. Our offerings now extend beyond traditional loans, evolving to meet the dynamic requirements of our business customers. With a comprehensive range of products and a commitment to innovation, we are poised to support the growth and success of MSMEs in India's evolving economic landscape
Product Suite
- Prime Loan against Property
- Elite Loan against Property
- Working Capital Overdraft (GST, Banking, and Enterprise Credit)
- Loan against Rent Receivables
- Supply Chain Finance through Fintech Partnerships
- Credit Guarantee Trust for MSME Scheme
- Navnirman Loans (GECL)
Road Ahead
The business vertical is focusing on meeting the rising demand for credit among MSMEs, driven by improved economic conditions and digital lending trends. With a strategic roadmap for the next 2-3 years, our aim is to cater exclusively to semi-formal and formal MSMEs through tailored short-tenure (ST) facilities for Working Capital (WC) and longer-tenure Loan against Property (LAP). Additionally, growth will be bolstered by supply chain finance initiatives and fintech partnerships.
Central to this strategy is digital transformation, with investments in new-age Origination, Life-Cycle Management, and Early Warning Systems, augmented by API integrations for streamlined underwriting, due diligence, and monitoring workflows. This ensures world-class banking services through scalable digital solutions while maintaining cost leadership.
We anticipate these efforts will strengthen our existing customer base and create new growth opportunities. With a focus on quality and diversification, we aim to enhance our market position and deliver sustained growth in the MSME portfolio over the coming quarters.
Key Highlights of FY 2023-24
- Restructured the vertical's strategy, now featuring the distinct lines of business: LAP, WC, and Fintech SCF
- Established Asset Centres nationwide, in addition to regional processing hubs, dedicated to serving MSME customers
- Implemented various digital enablers such as enhanced Business Net Banking, QR Solutions, and physical propositions like Cash Management Services to enhance and enrich customer journeys
FACILITATING
AFFORDABLE HOME
OWNERSHIP
WE ARE A TRUSTED PLAYER IN INDIA'S AFFORDABLE HOME LOAN MARKET, PARTICULARLY AMONG LOW-INCOME HOUSEHOLDS WHO ASPIRE TO OWN THEIR DREAM HOMES. WE SPECIALISE IN PROVIDING LOANS PRIMARILY TO THE UN-SERVED AND THE UNDER-SERVED SEGMENTS AMONG THE ECONOMICALLY WEAKER SECTION (EWS), LOW-INCOME GROUP (LIG), AND MIDDLE-INCOME GROUP (MIG) CUSTOMERS. THESE LOANS PLAY A CRUCIAL ROLE IN FULFILLING CUSTOMERS' ASPIRATIONS OF OWNING THEIR HOME.

Affordable Housing Dashboard
₹ 2,284 Crores
DISBURSEMENTS

64% YoY
₹ 4,924 Crores
BOOK SIZE

45% YoY
48,949
TOTAL CUSTOMER BASE

32% YoY
The average monthly disbursement volume increased from ₹ 110 Crores in FY 2022-23 to ₹ 190 Crores in FY 2023-24. Portfolio quality was one of the key focus areas for FY 2023-24 wherein the NPA was bought down from 2.65% in FY 2022-23 to 1.48%.
Product Suite
- Construction and Purchase Loan
- Home Improvement Loan
- Composite Home Loan
- Home Equity Loan
- Commercial Purchase Loan
- Pre-Approved Top-up
- Micro-LAP
Big Picture
Fuelled by rising incomes, improved affordability, and significant government support, the Indian housing finance industry is experiencing robust growth, with a projected Compound Annual Growth Rate (CAGR) of 13% from FY 2022-23 to FY 2025-26. In the aftermath of the Covid-19 pandemic, the sector demonstrated consistent strength, albeit with occasional seasonal variations.
According to recent data from the Reserve Bank of India (RBI) on 'Sectoral Deployment of Bank Credit,' credit outstanding to the housing sector surged by nearly ₹ 10 Lakh Crores over the past two fiscal years, reaching an unprecedented ₹ 27.23 Lakh Crores in March this year.
This upward trend is mirrored in the Search Trends Report for the Home Loan industry, released by Techmagnate, a prominent digital marketing agency in India. In this dynamic landscape, Non-Banking Financial Companies (NBFCs), traditional banks, and lending institutions are presented with an exceptional opportunity to capitalise on the increasing search trends in the home loan market, enabling them to engage with their audiences swiftly and profitably.
The insights provided in this report reveal valuable opportunities for banks to enhance their online presence and attract Home Loan customers, thereby driving growth and profitability.
Key Achievements of FY 2023-24
- Facilitated regular cross-regional team communication identified and addressed issues promptly, with crucial management support. Regular training sessions ensured the team was up-to-date with best practices and market trends.
- Shifted business focus towards Tier II & III markets, yielding better results with lower LTV and higher customer retention. Improved productivity per head, evidenced by the Feet on Street productivity increase to ₹ 26 Lakhs from ₹ 22 Lakhs in FY 2022-23, enabled the vertical to secure a place amongst the best in the affordable housing space.
- We opened 16 new Retail Asset Centres to optimise customer service with streamlined disbursement processes, swift turnaround time, and better presence and client services. Improved branch referral business significantly contributed to overall growth.
- Increased competition provides customers with multiple lending options across various regions. We implemented a robust retention model and policy, strengthening customer retention rates with our dedicated retention team.
- We scaled up micro-mortgage products from a pilot to a full-scale model, expanding from south to north, west, and east regions. We were driven by regular updates in the state-wise collateral policy to adopt best market practices. This policy was crucial in scaling up business in all regions.
- Various product and process enhancements in FY 2023-24 and a simplified variable pay structure, increased logins and business volumes. Continuous improvisation in asset quality ensured sustainable growth.
- Micro Mortgages launched a state-wise collateral policy, which helped to scale up business in all regions, ensuring our approach aligned with market demands and best practices
Road Ahead
In the future, we will focus on deepening our presence in existing locations, targeting a more extensive customer base and capturing the most potential clients. We're shifting towards onboarding more self-employed customers from the un-served and the under-served segment, specifically focusing on the SENP segment. Additionally, we plan to expand our digital channels for seamless customer onboarding and transition from physical branches to an assisted digital customer service model. We are set to leverage the potential of existing Retail Asset Centres and diversify the sourcing channels to create multiple lead-generating platforms.
We're set to launch a paperless Loan Origination System, expecting a significant reduction in customer onboarding time, enhancing sales and credit team productivity. Various initiatives, including customer service, vendor management, and loan processing applications, have been piloted and are scheduled for launch in FY 2024- 25. Our approach to digital transformation is positive, with customised modules to improve customer service, ensuring our continued leadership in the affordable housing sector. We will use the internal data analytics team to serve the customers better, focusing on having three products per customer and more on profitability.
EMPOWERING
MOBILITY THROUGH
FINANCE
THE INDIAN TWO-WHEELER INDUSTRY IS ON A GROWTH PATH AND IS EXPECTED TO INCREASE FURTHER IN THE UPCOMING FINANCIAL YEAR. OUR SIMPLIFIED DOCUMENTATION, COUPLED WITH QUICK DECISION-MAKING, HAS HELPED OUR CUSTOMERS FULFIL THEIR DREAM OF OWNING THE TWO-WHEELER OF THEIR CHOICE. OUR COMEBACK NARRATIVE INVOLVES A STORY OF OVERCOMING ADVERSITY, CHALLENGES, AND SETBACKS TO ACHIEVE REDEMPTION. THE DISBURSEMENT GAINED MOMENTUM DURING THE FISCAL YEAR AND HELPED ACHIEVE 37% GROWTH IN BOOK SIZE YEAR-ON-YEAR.

Vehicle Finance Dashboard
₹ 138.45 Crores
DISBURSEMENTS
34,777
TOTAL BORROWER BASE
Product Suite
- Two-Wheeler Loan
- Traditional ICE Vehicles
- Electric Vehicles
- Trade Advance as an Enabler has been Explored
Big Picture
Two-wheelers are not just a means of transportation; they represent affordability, convenience, and freedom. With lower maintenance costs and fuel consumption compared to cars, they offer a more accessible option for many in India.
The Indian two-wheeler industry has been experiencing significant growth driven by several factors. Urbanisation, rising disposable incomes, and the need for affordable transportation solutions are boosting demand. Moreover, easy access to financing options is making two-wheelers more accessible to a broader consumer base. The industry is also witnessing a shift towards electric vehicles, supported by Government incentives, addressing environmental concerns.
Furthermore, the expansion of rural markets and Government initiatives aimed at rural development are driving demand in non-urban areas. Additionally, technological advancements, including smart features and improved fuel efficiency, are influencing consumer preferences and contributing to market growth. Overall, these factors combined are propelling the Indian two-wheeler industry forward, making it a key player in the country's automotive sector.
Key Achievements of FY 2023-24
- Implemented a successful turnaround strategy for the two-wheeler business by enhancing dealership penetration in targeted geographies
- Achieved a remarkable 159% y-o-y growth in disbursement by prioritising tier-II and tier-III markets
- Enhanced systems and processes, which resulted in a 27% year-on-year increase in our customer base
Road Ahead
Moving forward, our primary focus is on building a robust portfolio in the two-wheeler business to gain substantial market share in our operational areas. We aim to achieve this through an excellent dealership network and phased growth, aiming for early breakeven and profitability.
Strategic expansion into new geographies will further enhance our reach. Additionally, we are committed to continuous improvement in customer experience and maintaining competitiveness through advancements in technology, ensuring our system capabilities and offerings meet market standards.
ENABLING BANKING
SERVICES FOR ALL
THE BANK HAS A DEDICATED TASC CHANNEL THAT SPECIALISES IN MEETING THE BANKING REQUIREMENTS OF VARIOUS BODIES/ENTITIES. THESE INCLUDE GOVERNMENT DEPARTMENTS, THEIR AFFILIATED ENTITIES, INSTITUTIONS, CORPORATIONS, EDUCATIONAL INSTITUTIONS, HOSPITALS, NGOs, HOUSING SOCIETIES AND RELIGIOUS BODIES. WE DO THIS THROUGH CUSTOMISED COLLECTION AND PAYMENT SOLUTIONS, ALONG WITH STATE-OF-THE-ART DIGITAL COLLECTION AND PAYMENT SOLUTIONS. FURTHERMORE, THE TASC CHANNEL HAS SEGREGATED ITS CUSTOMERS INTO SEGMENTS TO PROVIDE CUSTOMISED SOLUTIONS THAT CATER TO EACH OF THE INDIVIDUAL SEGMENTAL NEEDS. ON THE SOLUTION FRONT, THE CHANNEL HAS SPECIFICALLY TIED UP WITH FINTECH PARTNERS TO PROVIDE END-TO-END BANKING SOLUTIONS.

TASC Dashboard
₹3,831 Crores
BOOK SIZE

62% YoY
35%
CASA RATIO

81% YoY

COMPARED TO FY 2022-23
Product Suite
- Fixed Deposit
- Term Loan
- Current & Savings Account (QR/POS/BNB/CMS/Payment Gateway/Fee Collection Solutions) Facilities
- Escrow & Bank Guarantee Services
- Certificate of Deposit
- Insurance
Key Highlights of FY 2023-24
- Identified 230 TASC focussed branches to cater to customer needs and enhance the business further
- Streamlined the account opening process, making it easier for the customers to start their banking relationship with us. An entire ecosystem has been created for our TASC customers such as Point of Sale (POS), Quick Response (QR) code, Payment Gateway and other digital solutions to enhance customer experience and satisfaction
Road Ahead
Incorporating segment specific programmes along with adding need-based & curated solutions will help us in new acquisitions along with ring-fencing our existing customers.

GROWING
PORTFOLIO TO SCALE
COMPETENCIES
AS WE GROW OUR PRODUCT OFFERINGS, WE ARE ALSO ENHANCING OUR PEOPLE AND PROCESS CAPABILITIES AND TARGETING HIGHER-QUALITY CUSTOMERS.
During the year, we focussed on being accessible to customers’ financial needs across all lines of segments. We will continue to offer more comprehensive product propositions to customers and explore synergies through cross-sell and up-sell. We distribute third-party products and services through reputed financial services companies, covering life insurance, general insurance, health insurance, and investment solutions like Atal Pension Yojana (APY) and Demat accounts.
Third-Party Product Dashboard
₹620.50 Crores
GROSS PREMIUM COLLECTED

16% YoY
₹111.34 Crores
REVENUE

162% YoY

COMPARED TO FY 2022-23

Corporate Agency Arrangement - Our Partnerships
For insurance distribution, currently, we have Corporate Agency arrangements with:
Life Insurance
- Bajaj Allianz Life Insurance Co. Ltd.
- HDFC Life Insurance Co. Ltd.
- Aditya Birla Sun Life Insurance Co. Ltd.
- Max Life Insurance Co Ltd.
- ICICI Prudential Life Insurance Co. Ltd.
General & Health Insurance
- Bajaj Allianz General Insurance Co. Ltd.
- ICICI Lombard General Insurance Co. Ltd.
- Care Health Insurance Ltd.
Big Picture
The insurance and investment products sector is witnessing robust growth driven by rising financial literacy, regulatory support, and changing consumer preferences. Increased awareness about risk mitigation has spurred demand for insurance while evolving lifestyles drive interest in diverse investment options. Technology plays a pivotal role in making products more accessible and convenient through online platforms and mobile apps. This convergence of insurance and investment offerings, coupled with favourable market conditions, presents lucrative opportunities for providers and consumers alike, contributing to the sector's rapid expansion.
As we grow our portfolio of third-party offerings, we are also upgrading our capabilities. This is being done by stepping up on employee IRDA certification efforts, streamlining internal processes to remove various operational bottlenecks, and digitisation of processes related to customer onboarding and servicing. In addition, we are scaling up our service abilities and simultaneously focussing on quality customer acquisition across business verticals.

Product Suite
Life Insurance
Offerings
- Credit Life Insurance
- Term Insurance, Endowment and PAR Products
- POS and ULIP
General Insurance
Offerings
- Motor, Property, and Home Content
- Personal Accident
Health Insurance
Offerings
- Ujjivan Swasthya Suraksha
- Health Indemnity/Family Floater

Key Highlights of FY 2023-24
- Achieved over 20% growth in overall retail cross-sell insurance business, significantly boosting premium mobilisation
- Successfully launched Care Swasthya Suraksha, extending affordable healthcare coverage to 44,176 individuals
- Introduced PAR products within the Life Insurance vertical
- Formed strategic partnerships with two prominent life insurance companies, Max Life Insurance and ICICI Prudential Life Insurance Company
- Increased the average ticket size (ATS) of the life insurance business by an impressive 21%, reaching ₹ 42,000 compared to the previous year
Road Ahead
We plan to introduce a new line of business—Investment Services—for our customers. Many of our customers belong to the under-served category and are relative novices in financial management, which successfully exploits the whole gamut of financial options available. By serving this untapped need, we expect to add value. We aim to sell our third-party products through multiple physical and digital channels. We will be launching insurance through our telesales channel, alongside digital insurance distribution through an InsurTech platform enabled through our branches.
We have also introduced investment products under the TPP umbrella. Currently, we offer Government-based pension schemes, such as Atal Pension Yojana and Demat & Trading, in partnership with SMC Global Securities Ltd.
Going ahead, we will focus on improving customer satisfaction by enabling end-to-end digital claims intimation and settlement solutions for both our asset and liability customers. Moreover, we plan to revamp our internal customer management systems and introduce better data science based workflows, thereby improving overall business productivity while continuing to focus on building Insurance Regulatory and Development Authority (IRDA) and National Institute of Securities Markets (NISM) certified teams across branches.

ENHANCING FOOTPRINTS
ACROSS BFSI, CORPORATE AND
GOVERNMENT BANKING SEGMENTS
THE FINANCIAL INSTITUTIONS & GOVERNMENT BANKING GROUP (FIGB) HAS A WIDE CANVAS OF IMPACT WITHIN THE BANK – CONTRIBUTING SUBSTANTIALLY TO ASSETS IN INSTITUTIONAL LENDING AND BULK LIABILITIES FROM LARGE INSTITUTIONAL CLIENTS. FIGB ACQUIRES AND MANAGES THE PAN-INDIA LIABILITY BUSINESSES OF A VARIETY OF LARGE INSTITUTIONS LIKE BANKS (COOPERATIVE BANKS, REGIONAL RURAL BANKS, SMALL FINANCE BANKS, AND PAYMENT PAYMENT BANKS), MUTUAL FUNDS, INSURANCE ENTITIES, CAPITAL MARKET ENTITIES, NBFCs/HFCs/MFIs, GOVERNMENT DEPARTMENTS, CENTRAL & STATE GOVERNMENT PUBLIC SECTOR UNDERTAKINGS, QUASI GOVERNMENT BODIES, MID & LARGE CORPORATES, AND SIMILAR ENTITIES.
FIGB actively sources and manages lending to the MFIs, NBFCs and HFCs as per applicable credit policy and defined risk parameters. The group also plays significant role to arrange alternate sources of funding by effectively leveraging various avenues like refinance, inter-bank participation certificates (IBPC), securitisation, contingency lines, and other modes.

The Bank, while maintaining portfolio hygiene, has grown its institutional lending book with well-rated entities and disbursed ₹ 1,538 Crores over this fiscal, closing the book at ₹ 1,731 Crores, with a 53% YoY growth. The lending portfolio consists of 48 clients well spread. The Bank follows robust credit appraisal and monitoring processes for its wholesale lending exposures. The collection efficiency of the segment is close to 100%. Encouraged by revival in the market environment, the FIGB team launched working capital product OD for wholesale borrowers and is working to launch demand loans for working capital needs.
The group has capitalised on the fee-based trade finance product - bank guarantee, launched in FY 2022-23, and incrementally being built up as a business segment primarily from Capital Market and Government segment clients.
FIGB has sourced gross deposits of more than ₹ 9,600 Crores in FY 2023-24, comprising fixed deposits, certificate of deposits, current accounts and term money and served as a major contributor of funds for the Bank. The sourcing has been done while ensuring a fine balance of various deposit ratios, LCR requirements, cost of funds and a well-diversified customer base.
The group also raised more than ₹ 3,554 Crores through alternate sources of funding from various banks and financial institutions.
FIGB Dashboard
₹1,538 Crores
TOTAL DISBURSEMENT

68% YoY
₹1,731 Crores
GROSS LOAN OUTSTANDING PORTFOLIO

53% YoY
₹7,907 Crores
DEPOSIT, CURRENT ACCOUNT AND TERM MONEY AS ON MARCH 31, 2024
₹180 Crores
CURRENT ACCOUNT EOP
₹100%
MONTH-TO-MONTH COLLECTION EFFICIENCY

COMPARED TO FY 2022-23
Active Client Relationships
545
LIABILITIES
48
ASSETS
Big Picture
The demand for banking services in both the government and corporate sectors of India is rising steadily. This is due to ambitious infrastructure projects, corporate expansions, and Government economic initiatives. Organisations require substantial assets and liabilities to finance large-scale endeavours, reflecting growing confidence in India's economic prospects. This trend accentuates the importance of robust financial infrastructure and presents an opportunity for banks to offer specialised solutions. Overall, the rise in demand highlights banks' pivotal role in driving sustainable growth across India's economic landscape.
Product Suite
- Term Deposits/Certificate of Deposits/Current Accounts/Collection Accounts
- Term Loans to NBFCs and MFIs
- Working Capital Products (CC/OD/WCDL)
- Bank Guarantee
- Alternate Sourcing Avenues – IBPC, Refinance, and Securitisation
0.26%
GNPA for Institutional Lending Clients

Key Highlights of FY 2023-24
- Expanded presence in the Government banking segment by securing relationships with prestigious PSUs, Government departments, and autonomous bodies
- Sourced significant deposits from existing and New-to-Bank (NTB) clients, onboarding prominent industry names
- Fostered partnerships with top-rated NBFCs/HFCs/MFIs, resulting in a remarkable 54% year-on-year book growth
- Maintained a high-quality Credit portfolio, with AAA, AA, and A-rated assets comprising about 95%
- Completed integration with Public Financial Management System for seamless payments, offering comprehensive solutions to Government banking clients
- Raised over ₹ 3,554 Crores through various alternate funding sources, including IBPC transactions, refinance facilities, and securitisation
Road Ahead
We will continue to focus on diversifying our Deposit portfolio and expanding into the Government banking and Large/Mid Corporate segments. By cultivating Current Account (CA) and Savings Account (SA) balances from FIG & Government segment clients through value-added propositions, we aim to enhance relations with higher-rated borrowers and grow our asset base.
We will increase our deposit book by targeting regular segments of Banking and Financial Institutional clients, including Cooperative Banks, Regional Rural Banks, Mutual Funds, Insurance Companies, NBFCs/HFCs/ MFIs, Capital & Commodity Market clients, and Large Financial Vertical clients. There will be a greater emphasis on developing wholesale verticals like Government banking and Large/Mid Corporate segments.
Through new product initiatives, we aim to attract CA floats, SA balances, and Fee income from FIGB clients. Our focus is on expanding fee-based income through products like bank guarantees.
Additionally, we endeavour to create/enhance interbank limits, increase exposure limits from various mutual funds and insurance companies, and strengthen relationships with cooperative banks. We will actively seek empanelment with various State and Central Government entities in regions where the Bank operates. Additionally, we will continue to tap alternate sources of funding as needed to meet our funding requirements.
BANKING WITH
EMPATHY AND
EXPERIENCE
TO ENHANCE AND DEEPEN CUSTOMER RELATIONSHIPS, OUR BRANCH BANKING HAS BEEN FOCUSING ON SEGMENT-SPECIFIC OFFERINGS IN TERMS OF NEW INITIATIVES AND PROGRAMMES FOR DOMINANT SEGMENTS OF THE BANK. OUR EMPHASISED FOCUS ON SOURCING QUALITY ALONG WITH PRODUCT OFFERINGS WITH HIGHER AVERAGE TICKET SIZE (ATS) IN THE LAST FINANCIAL YEAR HAS DERIVED SIGNIFICANT BENEFITS. TO ADD FURTHER FOCUS, WE HAVE INCORPORATED THREE ADDITIONAL CUSTOMER SEGMENTS TO OUR EXISTING DOMINANT SEGMENTS WHICH ARE RETAILERS, YOUTHS AND MINORS.
OUR PRIMARY FOCUS HAS ALWAYS BEEN CUSTOMER SERVICE AND EXCELLENCE. TO FURTHER ADD TO CUSTOMER DELIGHT AND CONVENIENCE, WE HAVE LAUNCHED A RELATIONSHIP MODULE ALONG WITH A VIRTUAL RELATIONSHIP MODULE FOR OUR EXISTING CUSTOMERS.

Branch Banking Dashboard
₹16,746 Crores
LIABILITIES BOOK OF BRANCH BANKING

25% YoY
₹ 5,317 Crores
CASA BOOK

15% YoY
₹ 719 Crores
MAXIMA SA BOOK

COMPARED TO FY 2022-23
Product Suite
- Current Account – QR/POS/BNB/CMS/Payment Gateway Facilities
- High-Net-Worth Individuals (Navratna Programme)
- Savings Account
- Debit Card
- Term Deposit & Recurring Deposit
- Non-Resident Account
- Digital Savings and Fixed Deposit
- OD Against FD on Liability Products
- Retail Forex Services (Inward/Outward)
- TPP Products
Big Picture
Branch Banking in India remains a critical aspect of the banking experience, driven by a hybrid model integrating digital and physical services. Branches will continue to play a vital role in financial inclusion, particularly in rural areas, while focusing on personalised customer relationship management and leveraging technology for efficiency. Regulatory support and evolving customer preferences will sustain the relevance of branch banking, with an emphasis on enhancing customer engagement through innovative branch experience.
Key Highlights of FY 2023-24
- Branch Banking & TASC book crosses ₹ 21,000 Crores constituting to 67% of the total liabilities book of the Bank
- Newly launched product variants (Maxima CA & SA) crosses a portfolio value of ₹ 825 Crores with 14,000+ Accounts
- Navratna portfolio crosses ₹ 3,500 Crores with 158% growth
Road Ahead
We intend to launch new products and services to strengthen our banking solutions. We plan to open new branches to expand our reach and presence.
Following the large shift in consumer behaviour towards digital, the Bank is poised to strengthen its technological capabilities and digital solutions to tap the growth potential ahead.
We are confident that through our new digital initiatives, enhanced product and service offerings, along with key initiatives, Branch Banking is positioned well to take advantage of the opportunities.
BUILDING AND
GROWING OUR
OFFERINGS
WITH A DEMONSTRATED HISTORY IN BALANCE SHEET MANAGEMENT, TRADING, AND INVESTMENT MANAGEMENT, THE TREASURY TEAM IS DEDICATED TO MINIMISING THE COST OF FUNDS, MAXIMISING RETURNS, AND BOLSTERING THE BANK'S PROFITABILITY. ITS CORE DUTIES ENCOMPASS ENSURING COMPLIANCE WITH STATUTORY RESERVE MANDATES, ASSET LIABILITY MANAGEMENT (ALM), LIQUIDITY MANAGEMENT, TRADING ACTIVITIES, PRIORITY SECTOR LENDING CERTIFICATES (PSLC), AND CLIENT SERVICING.

- ALM Desk
- Investment Management
- Securities Trading
Treasury Dashboard
₹9,765 Crores
TREASURY INVESTMENT PORTFOLIO

17.17% YoY

COMPARED TO FY 2022-23
ALM Desk manages the Bank’s Regulatory Reserves, Balance Sheet Management, Asset Liability Management and Priority Sector Lending Certificates. The team is also focussed on driving liability targets, raising certificate of deposit and reducing the Bank’s cost of funds.
Investment Management focuses on enhancing returns on the Bank’s SLR portfolio and positioning it for maximum gain. The Securities Trading Desk manages the Bank’s market view across multiple asset classes, including Government Bonds, Corporate Bonds and Equities.
Big Picture
The treasury vertical of a bank presents lucrative opportunities for optimising balance sheets, maximising returns, and ensuring regulatory compliance. By adeptly managing liquidity, investments, and market risk, treasury departments can capitalise on interest rate differentials, yield curve movements, and innovative funding sources to enhance net interest margins and generate incremental income. Moreover, with evolving regulatory requirements and complex financial markets, there is a growing demand for treasury professionals with expertise in regulatory compliance, risk management, and financial modelling. This underscores the importance of investing in talent development and infrastructure to strengthen treasury capabilities and maintain competitiveness in the market.
Key Highlights of FY 2023-24
- Recognised with the ‘Treasury Strategy of the Year’ accolade at the India Treasury Summit & Awards
- Established a Non-SLR desk specialising in Certificate of Deposit (CDs), Commercial Papers (CPs), Corporate Bonds, and Equities
- Upgraded the Treasury Management System to align with new RBI classification and valuation norms
- Bolstered the team with seasoned professionals while emphasising gender diversity in recruitment and promotions
Road Ahead
The treasury department is poised to undertake several strategic initiatives aimed at bolstering the Bank's financial performance and expanding its service offerings. Its key focus areas include interest rate risk management through the prudent use of permitted IRS products to hedge balance sheet risks. Additionally, efforts will be directed towards growing the foreign exchange business, with plans to pursue an AD1 license from the RBI to offer a comprehensive range of FX services to clients. Moreover, the treasury aims to scale up its operations across various product classes, aiming to enhance Return On Assets (ROA) while ensuring sustained growth and profitability.