The Bank was originally incorporated as `V.A.P. Finance Private Limited' on June 21, 1993 at Madras, Tamil Nadu, as a private limited company under the Companies Act, 1956, and was granted a certificate of incorporation by the RoC. the Bank became a deemed public limited company under Section 43A of the Companies Act, 1956 on March 5, 1994 and the name of the Bank was changed to V.A.P. Finance Limited and the certificate of incorporation was endorsed by the RoC to that effect. the Bank thereafter became a private limited company under Section 31(1) of the Companies Act, 1956 and a fresh certificate of incorporation dated March 30, 2011 was granted by the RoC consequent upon change of name from V.A.P. Finance Limited to V.A.P. Finance Private Limited due to conversion of the Bank from a public limited company to a private limited company. A fresh certificate of incorporation dated August 12, 2011 was granted by the RoC consequent upon change of name from V.A.P. Finance Private Limited to Equitas Finance Private Limited in order to identify Equitas Finance Private Limited as a subsidiary of Equitas Micro Finance India Private Limited. A fresh certificate of incorporation was issued by the RoC on September 29, 2015 consequent upon change of name from Equitas Finance Private Limited to Equitas Finance Limited pursuant to conversion to a public limited company from a private limited company. the Promoter, EHL was granted the RBI In-Principle Approval and RBI Final Approval on October 7, 2015 and June 30, 2016, respectively, to establish an SFB. Subsequently, the Bank was converted in to an SFB and we commenced operations on September 5, 2016 as an SFB. A fresh certificate of incorporation dated September 2, 2016 was granted by the RoC consequent upon change of name of the Bank to Equitas Small Finance Bank Limited.
Pursuant to the Amalgamation Scheme, EMFL and EHFL amalgamated with and into the Bank (described in more detail below). Pursuant to a notification dated December 23, 2016 issued by the RBI and published in the Gazette of India dated February 4 - February 10, 2017, the Bank was included in the second schedule to the RBI Act.
Major events and milestones of the Bank : 1993 - Incorporation as V.A.P. Finance Private Limited
2015 - EHL received the RBI In-Principle Approval
2016 - Amalgamation of EMFL and EHFL with the Bank pursuant to the Amalgamation Scheme - Commencement of operations of the Bank as an SFB - EHL received the RBI Final Approval
2018 - Commencement of MSE Financing products by the Bank - New CV financing portfolio of the Bank crossed Rs.5,000 million - Advances including IBPCs crossed Rs.100,000 million
2019 - Total deposits of the Bank crossed Rs.100,000 million - Crossed 15,000 employees
2022
-Equitas Small Finance Bank opens its first branch in Trivandrum.
2023
- 'Granting of approval by Reserve Bank of India (RBI) to ICICI Prudential Asset Management Company Limited for acquisition of shares of Equitas Small Finance Bank Limited '.
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