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Among the top ten gainers on the Bombay Stock Exchange yesterday were holding companies of two small finance banks. Equitas Holdings and Ujjivan Financial Services, were both up about 20% in the intra-day trade on Monday. It was a moment these banks have been waiting for since at least 2018.
Small Finance Banks (SFB) are special banks set up by the banking regulator in 2015 meant to take banking services to the nook and cranny of the country.