Ujjivan Financial Services Limited (UFS - one of India's leading Microfinance Institutions) has become the fifth entity to have commenced business as a small finance bank on February 1, 2017.
The setting up required transfer of the existing lending and financing business of UFS to Ujjivan Small Finance Bank (a wholly owned subsidiary of UFS).
IndusLaw advised UFS in the transfer process as well as competition law aspects.
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