Utkarsh Micro Finance Ltd - Utkarsh CoreInvest Ltd

Utkarsh Micro Finance began operations in September 2009 in Varanasi, Uttar Pradesh, as the original microfinance arm of what is now a broader financial-services group, built around serving underserved and unbanked populations. It started life as an NBFC extending small loans under the Joint Liability Group model, focusing on low-income individuals and micro-entrepreneurs across rural and semi-urban parts of the Hindi heartland — Uttar Pradesh, Bihar, Madhya Pradesh and Uttarakhand among them. Over time, the company widened into micro-enterprise loans, housing loans, pension products and other retail lending, raising equity and debt capital from institutional investors to fund growth and financial-inclusion goals. In 2016, it received an RBI licence to set up a Small Finance Bank, leading to the formation of Utkarsh Small Finance Bank Limited as the microfinance business moved into broader banking. The holding entity was subsequently renamed Utkarsh CoreInvest Limited.