ESAF Small Finance Bank starts operations in Tamil Nadu


ESAF Small Finance Bank has kicked off its operations in Tamil Nadu, the first outside its home State of Kerala.

The bank has opened its new branch in Thuneri near Nilgiris in Tamil Nadu, reported The Hindu.

“We will be opening a branch at Ilayamuttur in Tirupur district and Pumalaikkund in Theni district soon,” said Paul Thomas, chief executive officer and managing director, ESAF Small Finance Bank.

The bank has planned to open 85 branches across the country in the next three months. It is targeting a business of Rs 20,000 crore in three years.

ESAF is among the 10 financial service firms selected by the Reserve Bank of India (RBI) for setting up small finance banks.