Suryoday Small Finance Bank starts ops in Hyderabad

Maharashtra-based Suryoday Small Finance Bank (SSFB) launched its operations here Tuesday with the inauguration of its first branch. MD and CEO of Suryoday Small Finance Bank, Baskar Babu said, "the lender focuses on ensuring financial inclusion of the unbanked and under-banked through innovative banking practices and continues to expand its reach in states where it currently does not have a presence.

We are happy to start our banking operations in Telangana with our first bank branch in Hyderabad and we will offer one of the most competitive interest rates on deposits to our customers because of our robust business model with low operating costs," he said in a press release. He further said the bank has completed two years of operations as a Small Finance Bank and plans to continue building a healthy book and generate wealth for our customers.