by Aakansha Shenoy -

MICROCAPITAL BRIEF: Utkarsh Raises $32m in Equity from Aavishkaar, Growth Catalyst, Olympus, responsAbility, Triodos for Microfinance in India

Utkarsh Small Finance Bank (SFB) of India recently concluded a private placement of equity shares, raising INR 2.4 billion (USD 32 million) shortly after filing with local regulatory authorities for an upcoming IPO, through which it plans to raise an additional INR 7.5 billion (USD 100 million). The participants in the recent funding round were

by Michelle Fleming -

MICROCAPITAL BRIEF: Utkarsh SFB Using ACI’s UP Retail Payments Solution to Expand Payment-card Usage in India

India-based Utkarsh Small Finance Bank (SFB), a former microfinance institution, recently upgraded its implementation of the Universal Participation (UP) Retail Payments solution from US-based financial services enabler ACI Worldwide, enabling Utkarsh “to acquire, authenticate and authorize, route and protect card and digital payments from multiple channels.” The transition also gives Utkarsh access to the