Corporate Overview

Statutory Reports

Financial Statements

Disclaimer

“This Annual Report has been prepared in accordance with Applicable Laws, including applicable Securities and Exchange Board of India (SEBI) and Reserve Reserve Bank of India (RBI regulations and may contain certain forward-looking statements which reflect Bank’s current views and expectations based on available information. These are subject to risks, uncertainties and assumptions and actual outcomes may differ significantly from those anticipated. The Bank does not undertake any obligation to revise or update any such forward looking statements, whether as a result of new information, future events or otherwise. The Annual Report is intended for general informational purposes only and should not be construed as financial, investment, legal or other professional advice and readers are advised to refer to official regulatory filings and consult professional advisors before making any decisions.

Copyright in all materials, text, articles and information contained in this document (other than third party materials, text, articles and information) is the property of and may only be reproduced with permission of the Bank. All rights reserved. “

Annual Report 2024-2025

img Annual Report 2024-2025
Digital
Future

Revolutionising Banking,
Enhancing Possibilities.

Since inception, we prioritised providing efficient, accessible, and hassle-free financial services. In sync with this objective, digital banking emerged as a strategic pillar in our growth journey.

Our Channels and Products

  • Mobile Banking Application - Retail
  • Net Banking Platform - Retail
  • Hello Ujjivan Application - Specially for MicroBanking segment of customers
  • Business Net Banking Platform - for Business segment
  • Business Mobile Banking Application - for Business segment
  • SMS Banking - Rural & Semi Urban Based Customers using feature phones
  • Missed Call Banking - Rural & Semi Urban Based Customers using feature phones
  • DIY - Digital Savings Account - Digital Acquisition Channel
  • DIY - Digital Current Account (Individual) - Digital Acquisition Channel
  • DIY - Digital Fixed Deposit - Digital Acquisition Channel
  • Video Banking
  • WhatsApp and Chatbot Banking
  • UPI Payment Services (As an Issuer) - Digital Payments
  • Merchant UPI QR Codes - Digital Payments
  • Aadhaar-enabled Payment System (AePS) for semi-urban and rural segment customers to Bank using Aadhaar number and Biometric Authentication
  • Bharat Bill Payment System (BBPS) Services as Biller Operating Unit

Key Digital Initiatives in FY 2024-25

DIY Digital Current Account:

Expanded digital acquisition suite with a new DIY platform for individuals to open current accounts with minimal branch intervention. By March 2025, a total of 263 accounts were opened through this channel.

Business Mobile App:

Launched a new mobile app with 90+ features to complement the existing business net banking. The idea was to extend our digital reach to semi-urban and rural business customers.

Merchant Sound Box:

Enabled real-time UPI transaction confirmations via sound boxes, enhancing payment experience and transparency.

Direct Tax Payments:

Partnered with ICICI Bank to provide direct tax payment facility, becoming the second Indian Small Finance Bank to do so. This initiative is aimed at simplifying corporate banking and improving user efficiency.

Digital Individual Loan Journey:

Introduced a complete digital loan journey for micro-banking repeat customers, covering the full spectrum - from application to disbursement. Unveiled via the Hello Ujjivan app, this intervention promotes credit access and inclusion.

Robotic Process Automation:

Automated 51 processes, saving workload equivalent to 89 Full Time Employees (FTEs) or 7.08 Lakhs man-hours annually in FY 2024-25. This Initiative resulted in operational savings of ₹ 14.13 Crores.

Bharat Bill Payment System (BBPS):

Became a direct member to offer Biller Operating Unit (BOU) services to offer digital loan repayment facility over BBPS enabled apps for our customers.

Cybersecurity Upgrade:

Implemented Protectt.ai security solutions in the `Ujjivan Mobile Banking app', `Hello Ujjivan ' and `Business Mobile Banking' app (Android & iOS) to strengthen malware protection.

UPI Autopay:

Enables our customers to effortlessly manage recurring payments such as EMIs, Credit Card bills, subscriptions, investments and utility bills etc.

Partnership with RBiH on ULI platform:

Has partnered with Reserve Bank Innovation Hub (RBiH) to integrate with the Unified Lending Interface (ULI) platform. This collaboration aims to enhance and streamline the loan journey across key products including Housing loans, Micro-Mortages, Gold Loans, Vehicle Finance and Agri Loans, enabling faster, more seamless access to credit for customers.

Unique Digital Customer Base

4.1Million

Unique Digital Customers

23% YoY

46%

Penetration achieved vs. total Current Account and Savings Account (CASA)

4% YoY

Top Small Finance Bank (SFB) In UPI

2nd among SFBs

In UPI Payments and Lower Technical Declines

530 Million

UPI Outward Transactions Volume

43% YoY

3.06 Million

Total Registered UPI Users

21% YoY

Internet Banking and Mobile Banking (IBMB) Adoption

27.8 Lakhs

Mobile Banking User Base (Including Hello Ujjivan App)

28% YoY

Under Registration, with 2.8 Lakhs+ Average Monthly Active Users (MAU)

1.7 Lakhs

Internet Banking Registrations (Including Business Net Banking), with 19K+ Average Monthly Active Users (MAU)

19% YoY under registration

Digital Campaigns
and Awareness

In FY 2024–25, we launched a targeted marketing campaign to spotlight Ujjivan’s digital innovations and reinforce our commitment to customer-centric banking. A key pillar of this effort was the ‘Digi Sampark’ initiative aimed at empowering branch staff with the knowledge and tools to champion our digital offerings, ensuring better customer engagement and experience.

Phone Banking: Every Call Matters

We transformed our Phone Banking service from a basic Interactive Voice Response (IVR)-assisted module to a powerful, multilingual platform that seamlessly blends human support with self-service functionality. This strategic shift was aimed at enhancing accessibility and ensuring a more intuitive customer experience. The service, which began as an assisted channel, gradually integrated key customer-centric features, including debit card hotlisting, balance enquiry, last five transaction details, language preference registration and card-based authentication.

In response to the growing customer preference for digital convenience, our Phone Banking services continues to evolve. With self-service IVR options and a dedicated ‘DigiMitra’ team, it now plays a vital role in our broader digital ecosystem. As the team handles queries/requests/complaints on digital channels i.e. Internet Banking, Mobile Banking, Quick Response (QR) code and Hello Ujjivan – our Voice and Visual assisted vernacular banking app. In addition, our DigiMitras handhold customers facing digital challenges, resolve queries and complaints and ensures timely follow-through, reinforcing trust and accelerating the adoption of digital channels.

A key differentiator of our Phone Banking functionality is its availability – 24x7x365 – and support in 9 languages via IVR and 13 via human interaction. The operations are managed through dual hubs located in Bengaluru and Pune, ensuring unhindered services. The platform currently handles over 500 types of service requests, including dedicated VRM channel to manage segment of customers with service-related aspects and also to cater to their financial needs. Furthermore customers can now open Accounts digitally through Video KYC journey and also are being serviced through Video banking team in locations where physical branches are not operational, providing ease of access.

Phone banking also has enabled Dedicated help lines to Non-Resident (NR) and to MicroBanking customer segments.

To further enhance speed, personalisation and efficiency, we deployed interval-wise volume forecasting, Erlang-based staffing, simplified IVRs and dedicated desks like Authoriser, Verifier, Escalation and Anti-Money Laundering (AML). These steps go a long way in optimising responses and ensuring high-quality interactions tailored to customer profiles.

Going ahead, we aim to further transform the Phone Banking platform with the integration of virtual assistants, voice tech, WhatsApp and automated self-service options. A centralised complaint management system, powered by integrated Customer Relationship Management (CRM) and contact centre tech, is in the offering, thus paving the way for a unified, seamless experience across all customer touchpoints.

Strategic Initiatives in Pipeline

Digital

Servicing

Channels

Digital Payment
Retail Internet & Mobile Banking Upgrade

We are undertaking a major overhaul in this direction, by transitioning to a microservices-based architecture to support a future-ready super app. The upgraded platform is set to expand beyond retail liabilities to include Assets, Mutual Funds and Insurance. Key integrations include our UPI Payment Service Provider App, real-time performance monitoring Software Development Kits (SDKs) and sophisticated marketing automation tools for better customer engagement.

Business Net Banking Enhancement

The Business Net Banking platform will be continuously added with new features to enhance Business Customer’s banking experience

Digital Enablers to Drive Current Account Growth
  • Digital Current Account (Non-Individual, Assisted Model): Offering fully digital onboarding journey for businesses and enterprises
  • UPI Merchant Solutions: Enabling secure, scalable digital payments for merchants
  • Bharat Bill Payment System (BBPS): Biller Onboarding Facilitating easy biller onboarding and payment management on the BBPS platform
  • UPI Autopay (Acquirer): Enabling our business customers to effortlessly collect recurring payments from their end customers

Cashless Loan Repayment

18.2 Million

Loan Repayment Transactions Completed Digitally through Bharat Bill Payment System (BBPS) and Hello Ujjivan Amounted to

₹ 6,625 Crores during FY 2024-25

56% YoY

34%

Of Total Collections Repaid Digitally

8.88 Lakhs Transactions

As a Direct Member and Biller Operating Unit (BOU), Transactions Worth Over ₹ 332 Crores were Conducted through the Bharat Connect Platform During the Year

Digital Transactions

92.4%

Of Total Bank Transactions Were Conducted Digitally

4% YoY

53 Crores+

Digital Transactions (Debit Only) were Completed During the Year

43% YoY

Retail Deposits via Digital Channels

₹ 3,421Crores

Of Deposits Were Booked Through Digital Channels, Including Mobile Banking, Internet Banking, Business Net Banking, and the Hello Ujjivan App During the Year

113% YoY

13%

Of Total Retail Bank Deposits

5% YoY

Merchant QR

56K+

Merchant UPI QR Codes Were Issued, Bringing the Cumulative Total to 5.17 Lakhs

Digital Acquisition Platforms

10,749

Digital Fixed Deposits (FDs) Were Opened, Contributing Over ₹ 143 Crores in Deposits

13,457

Digital Savings Accounts (SAs) Were Opened, With a Closing Balance of More Than ₹ 33.4 Crores

263

Customers Opened Digital Current Accounts (CAs), With a Closing Balance of ₹ 85.9 Lakhs

Reserve Bank Innovation Hub (RbiH) Partnership

Top SFB

For Using Services from Unified Lending Interface (ULI) Platform of RBiH

Member

Of the First Standing Advisory Committee

PAN validation services

Live for Housing Loan, Micro-Mortages, Vehicle Finance, Gold Loan and Agri loans processed through Loan Origination System (LOS)

Enhancing Operational Efficiency through Robotic Process Automation (RPA)

21

New Processes and 6 Enhancements

Automated Processes

Saved 88,566 Man-days, Equivalent to 7.08 Lakh Man-Hours Annually, with 179 Crores Transactions Processed

89

Full-Time Employees Cost Saved

Debit Card

Ujjivan remains at the forefront of debit card penetration and transaction volumes across the SFB segment, as demonstrated by the following metrics.

  • Ranked among the leading SFBs in terms of ATM usage, with ATM card transactions growing by 4.6% in FY 2024-25, despite the industry experiencing a decline of 14.7%
  • Maintained stature as one of the largest debit card issuer amongst our peers, with a total card base of 71,40,412 (7.14 Million) users
  • 2nd position in Point-of-Sale (POS) transactions within the Small Finance Bank (SFB) space, further widening the footprint in retail payment touchpoints
  • Generated over 39.78 Million transactions through debit cards in FY 2024-25 alone, reflecting their widespread usage and sustained customer trust in it
  • Recorded a significant growth rate of debit card issuance
ATM & Auto Cash Recyclers (ACRs)

Ujjivan continues to expand physical and digital banking infrastructure to increase accessibility, operational convenience and customer engagement as reflected in the following indicators:

  • Enhanced our network with 551 ATMs and 62 ACRs
  • Cemented position as the top-performing SFB in terms of ATM transaction volume, backed by a strong ATM uptime of ~99%
  • Deployed state of the art touch screen ATMs, featuring multilingual user interfaces and braille-enabled keypads, bolstering inclusivity and customer experience
  • Recorded approximately 34% share of total ATM transactions among its peer SFBs
Money Mitra: Partner-Assisted Touchpoints

The Money Mitra initiative serves as a vital enabler, bridging the last-mile gap by bringing banking services closer to the under-served communities through a network of Business Correspondent agents.

Savings of

~₹ 14 Crores

Were Achieved Through Robotic Process Automation (RPA) Initiatives, Including Reconciliation and Full-time Employee (FTE) Optimisation

These touchpoints offer multiple benefits as listed below:

  • Facilitate assisted banking services using secure digital authentication and mobile-enabled platforms
  • Leverage face-to-face interaction through Money Mitras to enhance brand visibility, support cross-selling opportunities and drive transaction growth in local markets
  • Support 103 branches through 179 active Money Mitra agents, contributing significantly to Ujjivan’s financial outreach
  • Empower Money Mitras to play a key role in enabling cashless repayments, accounting for 27.57% of total repayments, further highlighting our efforts towards enabling a digital-first ecosystem
Product and Services
Marketing and Branding Initiatives