ESAF extends its operations in Chennai – Inaugurated by Mr. K. Pandiarajan, Minister for Tamil Official Language and Tamil Culture, Govt. of Tamil Nadu

ESAF extends its operations in Chennai – Inaugurated by Mr. K. Pandiarajan, Minister for Tamil Official Language and Tamil Culture, Govt. of Tamil Nadu

ESAF extends operations in Chennai

Chennai, 10October, 2018:  ESAF Small Finance Bank, the first bank from Kerala to get a banking license since independence is expanding its operations by opening three branches at Velachery,Mugappair and Purus aiwa kkamin Chennai.

Velachery branch was inaugurated by Mr.K. Pandiarajan, Minister for Tamil Official Language and Tamil Culture, Govt. of Tamil Nadu. Purasaiwakkam branch was inaugurated by DurgeshSumrutt, IRS and Mugappiar branch was inaugurated by Dr T DhevanathanYadhav, Founder of IMKMK, Chairman and MD of WINTV.  All the fun cti ons were presided by Paul K Thomas, Founder and Director of ESAF Group.

Dr M Selvaraj, Principal of Guru Nanak College, Velachery inaugurated the ATM Counter and Dr Kishore Kumar, Chairman of St. Johns Group of Educational Institutions, Chennai inaugurated the Safe deposit Locker at Vela chery. Cash Counter and Skype counter were inaugurated by CAA.JohnMoris, Managing Partner of A.John Mo ris& Co Charted Accountants, Chennai and Mohammed Iqbal Kannan, National President of Minority resp ectively.

Dr S Devaraj, Chairman, AnnaiVelankanni Group of Educational Institutions Chennai inaugurated the ATM Cou nter and Dr Shiv akadaksham, D.M Consultant Cardiologist, Siva Cardio Car e, Chennai inaugurated the Cash Counter at Purusaiwakkam. Dr. M. J. Ramakrishnan, Vice President, Dental Council of Tamil Nadu spoke.

  1. Padmanabhan, Chairman of Banking & Insurance Committee of the Institute of the Cost Accountants of India, Chennai, inaugurated the ATM Counter and Nakkeeran Gopal, Editor-in-Chief of Nakkee ran Pub lications, Chennai inaugurated the Safe deposit Locker at Mugappair. Cash Counter and Skype coun ter were inaugurated by L. Venugopal, President, Ambattur Industrial Estate Manufactures Association, Chen nai and CA G. Kumar Senior Partner, A.JohnMoris& Co inaugurated the Cash Counter and Skype counter respectively.

ESAF SFB has opened its 125th Branch in TamilNadu atPurasaiwakkam, Chennai. As on date, ESAF Small Finance Bank has 422 banking outlets,125 new retail banking outlets, 205 ATMs, 297 Micro banking outlets and around 2.5 million customer base, spread across  11 states and round 106 districts in India. 

About ESAF Small Finance Bank

 The journey of ESAF began in a small house named ‘Little’ at Thrissur in 1992. Contrary to what the name sou nds, ESAF Society was launched with a bigger vision of sustainable holistic transformation of the poor and the mar ginalized. The success of Grameen bank in Bangladesh reinforced the vision of K. Paul Thomas the Founder and Managing Director of ESAF. In 1995, he launched Micro Enterprises Development (MED) services and it res ulted in the formation of ESAF Microfinance and Investments Pvt. Ltd., in 2008.

In 2015, the Reserve Bank of India, the financial regulator in the country has granted in-principle license to ESAF to launch a Small Finance bank. ESAF Small Finance Bank was one amongst the ten NBFCs to receive an ‘in pri nciple’ approval from the Reserve Bank of India (RBI) to set up a Small Finance Bank in the private sector. In Nov ember 2016, the final license was issued by the RBI. ESAF Small Finance Bank was incorporated on May 05, 201 6, with its registered office in Thrissur.