How many branches does Suryoday Bank have?
Suryoday Small Finance Bank has 31 branches in 6 states / union territories of India.
Is Suryoday bank safe?
Deposits in these new-format banks are also as safe as those in the other banks. Suryoday Small Finance Bank, which offers 9 per cent on deposits with a special tenure of 950 days and 8.75 per cent on two to three-year deposits, is a good option for investors.
Why Suryoday shares are falling?
Post listing, the stock has dropped by around 25 per cent from the IPO price. The interest reversals due to NPAs and slower disbursements dragged the net interest income (down 16 per cent yoy in FY21 to ₹410.5 crore) and consequently net profits for FY21 (fell by 89 per cent yoy to ₹11.9 crore).
What is Small Finance Bank?
Small Finance Banks is a specific segment of banking created by RBI under the guidance of Government of India with an objective of furthering financial inclusion by primarily undertaking basic banking activities to un-served and underserved sections including small business units, small and marginal farmers, micro and …
Who is CEO of Suryoday small finance bank?
R Baskar Babu
Suryoday Small Finance Bank was in the news recently after reports emerged of its potential merger talks with a non-banking finance company. In a freewheeling interaction, R Baskar Babu, MD & CEO of the bank talks about its growth opportunities and business environment to Manojit Saha.
Who is the founder of Suryoday bank?
Jobs. Baskar Babu is the Co-Founder & Chief Executive Officer at Suryoday Small Finance Bank . Additionally, Baskar Babu has had 3 past jobs including Vice President & Head- Quality & Ops at GE Commercial Finance .
Is Suryoday bank a good buy?
Suryoday Small Finance Bank (Suryoday) is among the leading SFBs in India in terms of profitability — delivering >2% RoA in FY19-FY20, supported by cost efficiency (cost / assets at <5.5% in FY21) and higher NIMs. We initiate with a ‘buy’ rating and target price of Rs 310, valuing the stock at 1.8 FY23E book value.
How good is Suryoday bank?
It’s small finance bank It’s good but stressful work environment with lots of work load. No job security & after that very less salary. Lots of Field work in different different locations.
Is it good to buy Suryoday small finance bank?
Is Suryoday bank covered under Dicgc?
The Bank shall inform the customers that all bank deposits are covered under the insurance scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (DICGC) subject to a maximum of Rs 1 lakh.
Is small finance bank safe?
While one can invest in FDs of small finance banks, the exposure should be restricted to Rs 5 lakh as this amount is insured under the deposit insurance program of DICGC. Deposits opened with scheduled banks are protected by the deposit insurance program of DICGC.