Milestones

2009-10

Utkarsh Micro Finance Private Limited (UMFPL)
(Currently Utkarsh CoreInvest Limited (UCL))

  • First Loan Disbursed on September 21, 2009 under JLG Model
  • Client base of over 8,000
2010-11

Utkarsh Micro Finance Private Limited (UMFPL)
(Currently Utkarsh CoreInvest Limited (UCL))

  • Partnered with Samutkarsh Welfare Services (SWS) for Welfare Activities (later CSR initiatives)
  • Expanded outreach in Bihar
  • Client base of over 55,000
2011-12

Utkarsh Micro Finance Private Limited (UMFPL)
(Currently Utkarsh CoreInvest Limited (UCL))

  • Launched Micro Enterprises Loan (MEL) Product
  • Expanded outreach in Madhya Pradesh and Uttarakhand
  • Client base of over 1 lakh
  • Received Microfinance India Organisation of the Year (Small and Medium Category) Award 2012
2012-13

Utkarsh Micro Finance Private Limited (UMFPL)
(Currently Utkarsh CoreInvest Limited (UCL))

  • Started National Pension System (NPS) Services
  • Expanded in New Districts of Bihar, Madhya Pradesh, Uttarakhand and Uttar Pradesh
  • Client base of around 2 lakh
  • Received Mix STAR (Socially Transparent And Responsible) Award 2013
2013-14

Utkarsh Micro Finance Private Limited (UMFPL)
(Currently Utkarsh CoreInvest Limited (UCL))

  • RBI upgraded licence to NBFC - MFI from NBFC – AFC
  • Expanded outreach in Maharashtra
  • Client base of over 3 lakh
2014–15

Utkarsh Micro Finance Private Limited (UMFPL)
(Currently Utkarsh CoreInvest Limited (UCL))

  • Expanded outreach in existing States
  • Client base of over 6 lakh
  • Received MF Transparency Seal of Pricing Transparency Award
  • Received CIMSME's MSME Banking Excellence Award 2015
2015-16

Utkarsh Micro Finance Private Limited (UMFPL)
(Currently Utkarsh CoreInvest Limited (UCL))

  • Received in-principle Licence for setting-up a Small Finance Bank
  • Launched Affordable Housing Loan (AHL) Product.
  • Expanded outreach in Chhattisgarh and Jharkhand
  • Client base of over 8.5 lakh
  • Received Smart Campaign Client Protection Certification
2016-17

Utkarsh Micro Finance Limited (UMFL)
(Currently Utkarsh CoreInvest Limited (UCL))

  • Received Final Licence for setting-up a Small Finance Bank
  • Name of the company changed to ‘Utkarsh Micro Finance Limited (UMFL)’ from ‘Utkarsh Micro Finance Private Limited (UMFPL)’
  • Set-up a Banking Subsidiary in the name of ‘Utkarsh Small Finance Bank Limited’ (USFBL)
  • CSR Partner name changed to ‘Utkarsh Welfare Foundation (UWF) from ‘Samutkarsh Welfare Services (SWS)’
  • 'Utkarsh Welfare Foundation' became a Subsidiary Company
  • Launched the New Logo of Utkarsh

Utkarsh Small Finance Bank Limited (USFBL) (Banking Subsidiary)

  • Commenced Banking Operations on January 23, 2017
  • Customer base (for Advances) of over 11.7 lakh
  • Customer base (for Deposits) of over 0.02 lakh
  • Total No. of Banking Outlets – 6 (plus 349 Micro Finance Outlets)
  • Received Skoch (Gold) – 2016 Award for Inclusive Insurance
2017-18

Utkarsh Small Finance Bank Limited (USFBL) (Banking Subsidiary)

  • Received 'Scheduled Commercial Bank' status
  • Started Wholesale Lending Business
  • Expanded outreach in West Bengal
  • Customer base (for Advances) of over 15.2 lakh
  • Customer base (for Deposits) of over 0.34 lakh
  • Total No. of Banking Outlets –164 (plus 241 Micro Finance Outlets)
2018-19

Utkarsh CoreInvest Limited (UCL)
(Formerly Utkarsh Micro Finance Limited (UMFL))

  • Name of the company changed to ‘Utkarsh CoreInvest Limited (UCL)’ from ‘Utkarsh Micro Finance Limited (UMFL)’
  • Change of Licence to ‘NBFC-CIC-ND-SI’ from ‘NBFC-MFI-ND-SI’

Utkarsh Small Finance Bank Limited (USFBL) (Banking Subsidiary)

  • Launch of Cashless Disbursements for Micro Finance Loans
  • Trademark registration of Utkarsh Logo
  • Customer base (for Advances) of over 20 lakh
  • Customer base (for Deposits) of over 2 lakh
  • Total No. of Banking Outlets – 441
  • Received MFIN Awards, 2018 in “Effective Grievance Redressal Systems” category
  • Received Excellence Award in MINE India - Microfinance and NBFCs Exhibition-cum-conference
2019-20

Utkarsh CoreInvest Limited (UCL)
(Formerly Utkarsh Micro Finance Limited (UMFL))

  • Celebrated a decade of being a trusted Financial Services Provider.

Utkarsh Small Finance Bank Limited (USFBL) (Banking Subsidiary)

  • Expanded outreach in Assam, Chandigarh, Gujarat, Odisha, Rajasthan and Telangana
  • ICRA Limited upgraded the short term rating to ICRA A1+ from ICRA A1 for Certificate of Deposits
  • Launched Micro Banking - Business Loan product
  • Launched Vehicle Loan Product for Micro Banking customers
  • Customer base (for Advances) of over 25.7 lakh
  • Customer base (for Deposits) of over 5.25 lakh
  • Total No. of Banking Outlets - 507
  • Received “Social Impact Initiatives Award”, 2019 at the 5th Eastern India Microfinance Summit 2019