CHENNAI: “Equitas Group is committed to contributing 5% of its annual profits to Equitas Development Initiatives Trust.”, Equitas Small Finance Bank Limited said today in a statement.
Equitas Small Finance Bank Limited has Equitas Development Initiatives Trust (EDIT) to implement the social development projects.
Equitas Small Finance Bank Limited is a Small Finance Bank (SFB), licensed by Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 to carry on the business of Small Finance Bank. The Bank commenced the business of SFB on September 5, 2016. It is the first Private Sector Bank from Tamil Nadu to commence operations post Indian Independence.
ESFBL, with pan India operations, is focussed on providing financing solutions for individuals and micro and small enterprises (MSEs) that are underserved by formal financing channels while providing a comprehensive banking and digital platform for all.
True to its tag line – “Fun Banking”, the bank offers customized savings products with a focus towards giving children, youth, families and entrepreneurs across India, a new and a fun way to bank.
Bank has Equitas Bird’s Nest initiative which rehabilitating pavement dwellers in Chennai, through this program, EDIT provides housing, food security, healthcare, livelihood skill development, and supplemental education to ultra poor families.
Bank organized an event to celebrate its successful rehabilitation of 1300 families from pavement across Chennai. Event was organized to celebrate this achievement with the beneficiaries at Sree Shanthivijai Jain College for Women, Vepery.
Equitas Pavement dwellers rehabilitation program is part of Equitas Development Initiatives Trust (EDIT) that addresses a larger spectrum of requirements of low-income self-help group (SHG) members including schools for SHG members’ children and skill development training classes to its SHG members.
The mission statement of Equitas is to improve quality of life by increasing total household asset value of those who are not effectively serviced by the formal financial sector by providing transparent and trustworthy access to financial and other relevant products and services by deploying cutting edge technology and forming partnerships and alliances.