Anup Bhagowaty

North East Small Finance Bank

North East Small Finance Bank Limited is the wholly owned subsidiary of RGVN (North East) Microfinance Limited. The only institution from North-Eastern state of India to receive "In-principle approval" to set up Small Finance Bank from Reserve Bank of India on September 16, 2015. NESFB primarily focuses in North East India, creating & facilitating better livelihood opportunities and banking services at their doorsteps, thus making North East, a financially included region. The bank has more than 155 Branch Network spread across nine states including eight states from the Northeast and West Bengal (North Bengal) with a portfolio outstanding of INR 1089 crore, touching & improving lives of over 5.21 Lakh clients. North East Small Finance Bank Limited came into existence in 17th Oct 2017. Some of the most reputed organizations in India and abroad viz. SIDBI Venture Capital Limited (Samirdhi Fund), M/s RNT Associates Private Limited, M/s PI Venture LLC, Norwegian Micro Finance Initiative, M/s Dia Vikas Capital and IDBI Bank have expressed their confidence and invested in the bank. In June 2018, Tata Trust's Chairman Ratan Tata and Assam's Finance Minister Himanta Biswa Sarma formally launched the retail banking business. The company intends to extend its services and products to the doorstep of the customer in rural areas.