Utkarsh CoreInvest Limited, its Promoter was granted the RBI In-Principle Approval to establish an SFB on October 7, 2015. The Bank was incorporated as ‘Utkarsh Small Finance Bank Limited’ on April 30, 2016 at Varanasi, Uttar Pradesh, as a public limited company under the Companies Act, 2013 and was granted a certificate of incorporation by the Registrar of Companies, Central Registration Centre. The Bank was thereafter granted the RBI Licence to carry on business as an SFB on November 25, 2016.