About Suryoday Small Finance Bank Limited

Suryoday Small Finance Bank Limited is a digital-focused small finance bank that began as a microfinance institution in 2008 and became a scheduled commercial bank in 2017, with a mission to expand financial access for underserved households and entrepreneurs across India. Headquartered in Navi Mumbai, the Bank operates through 710 banking outlets, serving 3.4 million customers across 15 states and Union Territories as of March 31, 2025.

The Bank offers Inclusive Finance products including Joint Liability Group loans and individual Vikas Loans, affordable housing and micro-mortgages, Loan Against Property, commercial vehicle finance, MSME lending both direct and partnership-led, Financial Institutions Group loans to NBFCs and MFIs, as well as deposit products such as savings and current accounts, fixed and recurring deposits, and innovative offerings like the Double Joy Deposit. It has introduced secured RuPay credit cards and strengthened its digital channels through mobile and internet banking.

Inclusive Finance remains the cornerstone of the Bank’s lending, comprising approximately 50% of the loan book, with secured lending also growing to about 50%. Suryoday SFB’s business model balances physical outreach with digital innovation. The Bank is listed on the NSE and BSE following an IPO size of Rs 581 crore backed by marquee investors. Its network includes asset-focused, liability-focused, and rural branches, evidencing strong penetration across urban and rural markets. No subsidiaries, associates, or joint ventures were reported for FY 2024-25.

Suryoday Small Finance Bank Limited Business Segment

The Bank operates across multiple financial product verticals with a core focus on inclusive and secured lending. It also offers comprehensive deposit products and digital banking solutions, catering to a wide range of customers in retail and MSME segments throughout its footprint in India.

Suryoday Small Finance Bank Limited Key Management

• Baskar Babu Ramachandran – Managing Director & CEO
• Hemant Premchand Shah – Whole-time Director
• Kanishka Chaudhary – Chief Financial Officer
• Krishna Kant Chaturvedi – Company Secretary & Compliance Officer

Latest Updates on Suryoday Small Finance Bank Limited

• Introduced new products including a Women’s Savings Account, Double Joy Deposit (a 22-year recurring deposit), and piloted secured credit cards.
• Expanded digital partnerships with entities like Stable Money and MobiKwik; digital FD journeys experienced over 700% growth.
• Rolled out new digital banking platforms enhancing internet, mobile, and corporate banking; established a Center of Excellence and reduced IT deployment lifecycle and downtimes.
• Enhanced cybersecurity programs and initiated a Data Lake for analytics-driven decision-making.
• The MSME digital lending stack enabled rapid pre-approval processes, driving 40% growth in MSME disbursements in Q4 FY 2024-25.
• Scaled granular retail deposits with CASA ratio improving to 20.9% and retail deposits forming 81.1% of total deposits.
• Received several awards including Best Digital First Bank of the Year and Ecosystem-Led Innovation Platinum at Infosys Finacle Innovation Awards 2025.