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The [[Reserve Bank of India]] granted a small finance bank license to Centrum Financial Services in October 2021.<ref>{{Cite web |title=Unity Small Finance Bank: Personal & Business Banking {{!}} Digital Bank |url=https://theunitybank.com/ |access-date=2025-03-10 |website=theunitybank.com}}</ref><ref>{{Cite web |title=Reserve Bank of India - Press Releases |url=https://www.rbi.org.in/scripts/FS_PressRelease.aspx?prid=52496 |access-date=2025-03-10 |website=www.rbi.org.in}}</ref> The formation of Unity Small Finance Bank was part of an RBI-led resolution plan for the crisis-hit [[Punjab and Maharashtra Co-operative Bank|Punjab and Maharashtra Cooperative (PMC) Bank]]. In June 2021, RBI approved centrum financial services limited's bid to take over the Punjab and Maharastra Co-operative Bank. Centrum financial services along with [[BharatPe|BharathPe]] fintech support helped the formation of Unity Small Finance Bank. It officially began on November 2021.
The Reserve Bank of India approved the re-appointment of Inderjit Camotra as the Managing Director and Chief Executive Officer of Unity Small Finance Bank. Under his leadership, the bank manages a deposit base exceeding ₹8,000 crore and a loan book over ₹8,500 crore.
The bank's head quarter is in Mumbai. [https://www.moneycontrol.com/news/business/banks/rbi-okays-inderjit-camotras-re-appointment-as-md-ceo-of-unity-small-finance-bank-12785921.html The present MD and CEO is Inderjit Singh Camotra.]<ref>{{Cite web |date=2024-10-22 |title=Unity Bank to explore IPO in two-three years: MD |url=https://www.financialexpress.com/market/ipo-news-unity-bank-to-explore-ipo-in-two-three-years-md-3645974/ |access-date=2025-03-10 |website=Financialexpress |language=en}}</ref><ref>{{Cite web |title=RBI okays Inderjit Camotra�s re-appointment as MD & CEO of Unity Small Finance Bank |url=https://www.moneycontrol.com/news/business/banks/rbi-okays-inderjit-camotras-re-appointment-as-md-ceo-of-unity-small-finance-bank-12785921.html |archive-url=http://web.archive.org/web/20240807102659/https://www.moneycontrol.com/news/business/banks/rbi-okays-inderjit-camotras-re-appointment-as-md-ceo-of-unity-small-finance-bank-12785921.html |archive-date=2024-08-07 |access-date=2025-03-10 |website=Moneycontrol |language=en-US}}</ref><ref>{{Cite web |title=Senior Banker, Inderjit Camotra Appointed MD & CEO Of Unity Small Finance Bank |url=https://www.bwpeople.in/article/senior-banker-inderjit-camotra-appointed-md-ceo-of-unity-small-finance-bank-442735 |access-date=2025-03-10 |website=BW People |language=en}}</ref>
'''Re-appointment of MD & CEO''' The Reserve Bank of India approved the re-appointment of Inderjit Camotra as the Managing Director and Chief Executive Officer of Unity Small Finance Bank. Under his leadership, the bank manages a deposit base exceeding ₹8,000 crore and a loan book over ₹8,500 crore.
=== Technology and Digital Banking ===
Technology and Digital Banking Unity SFB has invested in digital banking services, offering mobile and internet banking to enhance accessibility for customers. The bank provides online account management, fund transfers, and customer support through its website and mobile app.
=== '''Financial Performance and Ratings''' ===
Financial Performance and Ratings In June 2024, credit rating agency ICRA upgraded Unity Small Finance Bank’s long-term rating to [ICRA]A (Stable), citing strong growth, a well-established deposit base, and improved profitability metrics. <ref>{{Cite book |last=ICRA |first=Affiliates |title=}}</ref>In the quarter ending September 2023, Unity Small Finance Bank reported a net profit of ₹137.73 crore, a 155% increase from ₹53.97 crore in the same period the previous year. The total income rose to ₹360.5 crore from ₹210.46 crore year-over-year. Additionally, gross non-performing assets (NPA) decreased to 5.5% from 56.29%, and net NPA fell to 0.43% from 5.95% over the same period.<ref>{{Cite web |title=Unity Small Finance Bank Q2 profit jumps 155% to Rs 138 crore |url=https://www.moneycontrol.com/news/business/earnings/unity-small-finance-bank-q2-profit-jumps-155-to-rs-138-crore-11661281.html |archive-url=http://web.archive.org/web/20231112154027/https://www.moneycontrol.com/news/business/earnings/unity-small-finance-bank-q2-profit-jumps-155-to-rs-138-crore-11661281.html |archive-date=2023-11-12 |access-date=2025-03-10 |website=Moneycontrol |language=en-US}}</ref>
=== '''Re-appointment of MD & CEO''' ===
The Reserve Bank of India approved the re-appointment of Inderjit Camotra as the Managing Director and Chief Executive Officer of Unity Small Finance Bank. Under his leadership, the bank manages a deposit base exceeding ₹8,000 crore and a loan book over ₹8,500 crore.<ref>{{Cite web |title= |url=https://www.moneycontrol.com/news/tags/unity-small-finance-bank.html}}</ref>
== References ==<!--Inline citations added to your article will automatically display here. See en.wikipedia.org/wiki/WP:REFB for instructions on how to add citations.-->
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