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Transfer money direct to beneficiarys bank accounts in 12 participating countries or let them pick up their cash from over 500000 Western Union agent locations in 200 countries. A 60 stake was taken by the Reserve Bank of India and the new bank was named State Bank of IndiaThe seven other state banks became subsidiaries of the new bank in 1959 when the State Bank of India Subsidiary Banks Act 1959 was passed.

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Ujjivan Small Finance Bank Limited is an Indian small finance bank based in Bangalore which commenced operations on 1 February 2017.

. Ujjivan Small Finance Bank is licensed under Section 22 1 of the Banking Regulation Act 1949 to carry out small finance bank business and received Scheduled Bank status from the Reserve Bank of. Instantly transfer money to any beneficiary within Maybank Singapore Limited MSL and Malayan Banking Berhad. The Central Government entered the banking business with the nationalization of the Imperial Bank of India in 1955.

Ujjivan Financial Services holds an 80 percent stake in the bank. History Emergence of public sector banks.

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