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“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.

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Annual Report 2024-2025

img Annual Report 2024-2025
Environment,
Social and
Governance
(ESG) Dashboard &
Strategies

Driving Responsibility,
Creating Value.

Environment, Social and Governance (ESG) demonstrated meaningful progress in just two years into its journey, embedding sustainability across operations and culture. What began as a focused intent, soon transitioned into a bank-wide movement redefining the mission and leading to broader and systemic integration of ESG considerations into strategic decisionmaking. The path forward is on prioritising long-term value creation, towards cementing our position as a purpose-driven institution committed to responsible growth.

In alignment, we undertook initiatives that reflect both intent and accountability. The 'Social Services' division was rebranded as 'Sustainable Banking', with a dedicated governance structure, showcasing a strategic shift towards integrated sustainability. The Corporate Social Responsibility (CSR) Committee evolved into Corporate Social Responsibility & Sustainability Committee at the Board and Management level, with the Chief Risk Officer joining as a member. Board members actively contributed to thought leadership and participation of a Board member in a webinar on ‘ESG & Net Zero Imperatives’ by the Institute of Directors showcases our commitment to Sustainability. Additionally, an implementation group consisting of key representatives from various departments has been formed, with each member responsible for successfully executing new initiatives. The bank has been proactive in conducting maturity assessments, addressing gaps, and advancing on the ESG ladder.

Sustainable Banking at Ujjivan

We champion financial inclusion by serving the un-served and the under-served communities, including low-income individuals, women, rural populations, and marginalised groups. Through our holistic approach, we go beyond the delivery of financial products to include financial literacy, empowering these communities to manage their finances and build a resilient, sustainable future. A strong emphasis is placed on women’s financial empowerment, recognising their pivotal role in breaking the cycle of poverty. Initiatives like ‘Diksha Pro+’ exemplify our commitment to this cause.

As a mass-market bank with a deep-rooted social purpose, we ensure that our offerings align with SEBI, RBI, and the United Nations Sustainable Development Goals (UNSDGs). Currently, we integrate 14 of the 17 UNSDGs into our business practices and service delivery. Through our CSR initiatives, we play a catalytic role for inclusive development and continue to deliver tangible outcomes, positively impacting millions of lives.

Environmental

65,712.33 GJ*

Total Electricity
Consumption

8,063.25 GJ*

Total Fuel Consumption

51.09 GJ*

Energy Consumption
Through Renewable
Sources

600.5 MTCO2e**

Scope 1 Emissions

13,270 MTCO2e**

Scope 2 Emissions

17,908 MTCO2e**

Scope 3 Emissions
(Cat 1,2,3,5,6,15)

1.9

Total Emission Intensity
(Scope 1 & 2) per Rupee
Turnover

21.6

Water Intensity

0.00860

Waste Intensity per
Rupee Turnover

10.1 MT***

E-waste Sent to
Authorised Recyclers

* Gigajoule
** Metric Tonnes of Carbon Dioxide Equivalent
*** Metric Tonnes

Social

138+

No. of CSR
Projects

1,215,494+

Total No. of CSR Beneficiaries

169,704+

Beneficiaries Through FLP

20%

Gender Diversity

14,560+

Volunteering
Engagement Hours

38.9

Average Training
Hours

Governance

Renaming Social Services Department to

Sustainable Banking with Exclusive

CSR & Sustainability Committee

55%

Board Diversity
(5 out of 9 are Women)

ISO 27001:2022 Certified

Information Security Management System

99%

Of the Contracts
Executed Digitally

Environment

Protecting Planet,
Powering Progress.

We recognise environmental stewardship as a critical pillar of sustainable banking and are committed to minimise our environmental footprint, while fostering a culture of conscious resource usage. Our sustainability goals are guided by structural interventions in energy conservation, green energy, waste management, and water conservation. These collective efforts support our efforts towards becoming a more responsible institution – one that balance operational growth with long-term environmental resilience.

Energy Conservation

Sustainable Infrastructure

We are committed to reducing power consumption by 20% by 2030. In line with this objective, we relaunched the Sanchaya Programme in corporate and regional offices to optimise energy usage. With the implementation of this initiative, we recorded a 8% reduction in energy expenditure across Q3 and Q4 of FY 2024-25 compared to the previous year. Additionally, we upgraded our corporate headquarters with sustainability-focused renovations, including energy-efficient systems and responsible resource usage.

Green Energy

We installed solar panels at feasible locations, at three of our branches with a capacity of 3 Kilovolt-Amperes (KVA) at Krishnapura, 5 KVA at Adanoor & Shyagale currently benefitting from this initiative. Taking a step further, our Sudarshan More branch in the East operates primarily on solar power with a capacity of 11 KVA between 9:00 am to 4:00 pm on all working days, switching to the grid thereafter. Building on this momentum, we plan to expand solar adoption across suitable office locations, furthering our commitment to green energy and reducing our carbon footprint.

Waste Management

We implemented a structured waste management system across regional and corporate offices, ensuring effective segregation of dry, wet, and sanitary waste at source. As part of this initiative, waste is weighed, recorded, and handed over to municipal units for responsible disposal through authorised vendors. During the year, a total of 51,799 kg (51.8 MT) of waste was managed sustainably.

Our Valapad branch was recognised by the Grampanchayat Ritha Karma Sena for its disciplined waste disposal, earning the distinction of a ‘Model Branch’ and inspiring others to follow.

E-Waste Management:

We ensure all e-waste generated across our operations are disposed of through the Pollution Control Board-authorised recyclers. In FY 2024-25, we safely disposed off 10,129 kg of e-waste through the recyclers. The sustainable banking and IT infrastructure teams visited a Bengaluru-based recycler to verify compliance and maintain adherence to responsible disposal practices.

Water Management

We prioritise responsible water usage across our facilities by installing water aerators in most of our locations, while newly established and renovated spaces feature sensor-based taps to minimise consumption. Awareness posters are prominently displayed to reinforce the importance of water conservation among employees.

Social:
People

Nurturing Talent,
Creating Opportunities.

We see our people as the catalysts of our progress and transformation. Our focus on productive workplace enables us to build a workplace culture that celebrates diversity, inclusivity, continuous learning, and holistic well-being. Through dynamic policies and forward-looking programmes, we nurture an ecosystem where individuals are empowered to lead and are equipped to grow with purpose. By investing in our people, we are creating a future-ready, value-driven organisation - one that contributes meaningfully to a more inclusive and resilient society.

People Dashboard

24,374

Total Employees

4,896

Total Women
Employees

23

Women Onboarded through Unpause Initiative

48

Courses Launched on
Learning Management
System (LMS)

99%

Active LMS Users

GPTW

Certified for the 15th year in a
Row and Ranked Among the
Top 25 BFSI for the 3rd time.

25,534 Hours

Supervisory Skill
Development

38.9 Hours/Employee

Average Learning Hours

33,669 Hours

Technical Skill Development

*Not unique employees

We have proudly maintained its position in the Best Companies to Work for in India, as certified by the Great Place to Work Institute, for the 15th consecutive year. Additionally, it has been recognised as one of the Top 25 BFSI Best Places to Work 2025 for 3 years in a row. (*UFSL rankings included from 2009-16).

Diversity, Equity & Inclusion (DEI)

We foster diversity across gender, age, ethnicity, disability, and socio-economic backgrounds. Our board gender diversity of 55% bears the hallmark of our commitment to balanced and inclusive leadership. At the organisational level, our workforce gender diversity stands at 20%, with a clear target of scaling it to 30% by 2030. Through initiatives like Unpause, we actively support women in resuming their professional journeys after extended career breaks. In FY 2024-25, we recruited 1,934 women, of which 23 were part of the Unpause initiative.

We leveraged structured Human Rights Policy to uphold fair treatment and equal opportunities for employees and stakeholders. A dedicated committee is in place at both regional and corporate levels to oversee grievance redressal through a well-defined escalation mechanism. Reflecting our inclusive ethos, our workplaces have undergone renovations to incorporate access ramps and PwD-friendly (persons with disabilities) restrooms, ensuring accessibility for all. As of March 31, 2025, we have 19 PwDs as part of our workforce.

Our focus on DEI extends beyond our workplace to support the community, demonstrating our belief in collective progress. Through our CSR Livelihood Development programmes, we provided wheelchairs, motorised tricycles, Neomotion vehicles, and employability training to 370 differently abled individuals. Furthermore, we conducted financial literacy and orientation sessions to guide beneficiaries on career opportunities in the banking sector, fostering greater social integration.

Learning & Development

FY 2024-25 marked a strategic shift in how Ujjivan approached employee development. Moving beyond organisation-mandated programmes, the focus shifted to employee-driven learning empowering individuals to shape their own growth journeys. The year’s learning philosophy revolved around personalised development through Individual Learning Plans, aligned with career aspirations and business needs.

Enabling future-ready skills:

Learning initiatives focused on upskilling for transformation cross-selling, Generative AI, productivity mindset, and more. Platforms like Harvard Business Publishing and LinkedIn Learning were actively leveraged, with mid to senior management completing over 4,800 hours of high-impact learning.

A total of 42,120+ employees were trained during the year, with 64% of training efforts centred on functional expertise, behavioural competencies, and technical skills. AI was introduced to personalise learning paths, recommend content, and enhance change management.

Supervisory and leadership development:

Ujjivan invested over 25,500 hours in building supervisory capabilities across middle management and first-time managers, extending its leadership journey that began with senior leaders in FY 2023-24. Partnerships with top-tier institutes like Harvard and IIMs continued to shape the leadership bench strength. Programmes such as Women's Initiative For Success and Empowerment (WISE), Leaders Inspired for Tomorrow (LIFT), and UPLIFT (an advance version of the LIFT) impacted 575 unique participants, while the Learning Grant supported 61 employees in pursuing individual development goals. Additionally, 41 external leadership programmes were conducted to broaden management capabilities.

Technical and hands-on capability building:

Our Technical Training Programme supported 5,038 learners with practical skill development across tools and systems.

Nurturing talent from within:

Internal Job Postings, structured career progression programmes, and a focused Succession Planning framework were strengthened to ensure continuity and growth. High-potential programmes were launched for middle management, alongside women-specific initiatives to accelerate female career advancement.

Building for Tomorrow:

We strengthened mentorship programmes, promoted internal mobility, and expanded career development opportunities—resulting in a marked rise in internal promotions. Our Performance Advancement and Corrective Measures (PACE) initiative further enhanced performance through structured feedback and development planning.

Wellness and Care

In FY 2024-25, we strengthened our health insurance programme to offer enhanced benefits across maternity, pre-natal and post-natal care, and In Vitro Fertilisation (IVF) treatments. These upgrades ensure comprehensive coverage tailored to different life stages. Additional term-life coverage was introduced for employee families, with a special focus on frontline roles.

Our wellness efforts extended to physical and emotional well-being, with 24/7 counselling support through a dedicated emotional wellness hotline. Throughout the year, we conducted targeted awareness campaigns on road safety, women’s health, emotional wellness, and financial health reinforcing a proactive and preventive approach to employee care.

Employee Experience

We have made significant progress in improving operational efficiency and employee convenience through digital transformation. The launch of the ‘Staff Personal Loan’ platform via CRMNxt enabled instant eligibility checks and reduced disbursal time to just 3 working days. Over 25 automated Human Resource Management System (HRMS) workflows were introduced, streamlining key processes like Staff Re-KYC (now completed in a single day) and simplifying talent mobility. Employee feedback remained central to our approach, supported by real-time digital engagement surveys that helped us listen, respond and adapt swiftly.

Our compensation and benefits programme are designed for transparency, fairness, and market competitiveness. Pay bands are benchmarked externally and equitably applied across roles, ensuring no bias by gender or designation. Annual increment and bonus announcements are communicated transparently to foster trust and clarity. Best-in-class variable pay programmes are rolled out for sales and collections teams, aligned with industry standards. Our Human Resource Management System (HRMS) helpdesk ensures swift redressal of employee queries, with 99% of cases resolved within defined turnaround times in FY 2024-25—reinforcing responsiveness as a key Human Resource pillar.

Engaging with Our People

We are consistently recognised as a workplace that fosters pride and trust, driven by transparency and inclusivity. Employees at all levels are empowered through regular platforms like Branch Representative Meetings, Townhalls, and Human Resource Business Partner (HRBP) visits that promote open dialogue and leadership access. Our AI chatbot, Amber, supports proactive retention by identifying and engaging disengaged employees. A strong culture of recognition further fuels motivation, with awards such as Annual Awards, Corporate Excellence, Summit Awards, and regional initiatives like Pratistha and South Spotlight celebrating outstanding performance.

Engagement in FY 2024-25

65

Branch Representative Meetings

86

Employee Engagement Score

3,104

Human Resource Business
Partner (HRBP) Branch Visits

51

Townhalls Conducted Pan India

1,954

Employees Flagged by AI Chatbot (Amber) and Engaged

Human Rights & Health & Safety

We are committed to responsible business practices that prioritise fairness, dignity, and employee well-being. Our board-approved Human Rights policy ensures fair wages, safe working conditions, and zero tolerance for child and forced labour. Through our Occupational Health & Safety framework, we focus on risk prevention and aim for zero workplace accidents by 2023. We also ensure that human rights considerations are integrated into our vendor practices to promote ethical standards across our value chain.

Social:
Communities

Supporting People,
Strengthening Communities.

We commenced operations as a Non-Banking Financial Company (NBFC) in 2007, and from the outset, social responsibility remained integral to our mission. We began by allocating budgets for branch-level social initiatives, including painting the school premises and providing stationery to government schools. Over time, we scaled our impact through Corporate Social Responsibility (CSR)-driven efforts, spearheading large-scale community projects, including bridging the digital divide and rejuvenating lakes. These initiatives reflect our deep, organisation-wide commitment to community welfare and our resolve to create lasting, meaningful impact.

Guided by our clearly defined thematic areas, our CSR initiatives continue to uplift marginalised communities. As part of our ESG journey, we embedded sustainability into all aspects of our work, including CSR. Last fiscal year, we introduced ‘Environment’ as a focused thematic area for resource conservation projects. Actively engaging our employees and stakeholders, we established a robust governance framework to oversee and guide our CSR programmes.

Community Dashboard

1,215,494

Lives Impacted

138+

Projects

24 States/2 UTs &
230 Districts
13/17

UNSDG alignment

20%

Aspirational districts like Ranchi, Barwani, Ramgarh, Banka, Giridih, Gaya etc.

14,560

Volunteering engagement hours and 7,250 Volunteers

Our CSR Projects & Impact - FY 2024-25
CSR Projects (Thematic Area wise) No. of Persons Benefited from CSR Projects FY 2024-25
Infrastructure Development Programmes (Chote Kadam & Others) 854,614
Livelihood Enhancement 662
Disaster Relief 21,353
Education and Sports 9,547
Environment and Animal Welfare 242,334
Healthcare 86,984
CSR Outreach

Community Development Programme

Chote Kadam

64

No. of Projects

854,614

No. of Beneficiaries Impacted

In partnership with Parinaam Foundation, our flagship programme ‘Chote Kadam’ emerged as a powerful enabler of grassroot level transformation. During the last fiscal, the programme executed over 280+ projects across India. These initiatives focus on renovating schools, healthcare centres, ‘Anganwadis’, restrooms, playgrounds, in addition to accessibility to safe drinking water. Notably, 13% of the projects executed this year are in aspirational districts, reflecting our focus on under-served regions.

Some of the significant projects executed this year are:

Project Description District/State No. of Beneficiaries
Provision of a garbage truck to the municipality Maddur 50,000 residents
Public Park renovation (cleaning, gym equipment, and toilet) Ramanathapuram 15,000 residents
Lactation room and waiting area at public health centre Kalyan 5,000/month
First public park with walking trail & play area Khadana, Gujarat 2,500/month (children)
Shelter for cows at Goshala Ghogharian 2,500 cows
Renovation of 48 rooms in an old-age home Agra 350 residents
Dormitory construction for residential school children Vadodara 150 children

Livelihood Development Programmes

7

No. of Projects

662

No. of Beneficiaries Impacted

We believe in the philosophy, “Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime”. Guided by this ethos, our CSR livelihood programmes empower first-generation learners and marginalised communities, including individuals with physical and cognitive disabilities, women, and unemployed youth from Below Poverty Line (BPL)/Above Poverty Level (APL) backgrounds. Continuing to widen our reach each year, we introduced these programmes in Varanasi, Ranchi, and Hazaribagh last year, along with innovative self-employment models for severely orthopedically challenged Persons with Disabilities (PwDs).

Cheshire Disability Trust (CDT)

We maintain strategic partnerships with high impact implementing agencies (IAs) that align with our values, enabling us to pursue sustainable and inclusive development objective. In the livelihood space, we collaborated with Cheshire Disability Trust (CDT), Divya Nur Foundation, and ProVision Asia for over three years.

Through our partnership with Cheshire Disability Trust, we focus on livelihood development for PwDs. In FY 2024-25, we have trained about 300 individuals, equipping them with skills in communication and basic computer literacy, among other programmes. We imparted training with orthopaedic and auditory impairments across Jamshedpur, Hazaribagh, Ranchi, and Varanasi. After successful completion, they were placed in retail, banking, and Information Technology Enabled Services (ITeS) sectors with an average monthly salary of ₹ 9,000.

The placement drive was supported by a diverse group of employers, including TATA Motors, Amazon and other reputed organisations.

We also launched a targeted self-employment programme for orthopaedically challenged individuals in collaboration with CDT, Neomotion, and Zomato. Under this initiative, 10 beneficiaries, facing severe mobility challenges were equipped with digital literacy, taught English communication and soft skills. They were provided Neomotion vehicles and employed as Zomato delivery partners, earning an average of ₹ 12,000 per month with flexible work hours to accommodate their needs. These endeavours continue to empower individuals with disabilities, fostering financial independence and sustainable livelihoods.

Testimonial from the
Neomotion beneficiary

“Living with a 75% locomotor disability, I struggled to find work until Ujjivan, along with Cheshire Disability Trust, supported me with a NeoMotion vehicle and training. I now earn over ₹ 45,000 a month as a Zomato delivery partner and care for my elderly mother independently. Ujjivan helped turn my challenges into strength and gave me the means to live with dignity.”

- Lakshmi Devi V
Testimonial from the
Neomotion beneficiary

“For years, I was unemployed and immobile. With support from Ujjivan and Cheshire Disability Trust, I received mobility training, digital literacy, and the tools to work as a Zomato delivery partner. Today, I earn ₹35,000 a month, support my daughters’ education, and share the financial load with my husband. Ujjivan helped me regain my dignity and build a better future for my family.”

- Chithra Devi B
Divya Nur Foundation

We partnered with Divya Nur Foundation to implement a livelihood enhancement programme aimed at equipping youth from marginalised communities with essential employability skills. The training curriculum encompassed communication skills, behavioural skills, and computer literacy, among other job-readiness modules. Post-training, the participants were placed in the retail, banking, Information Technology enabled Services (ITeS) sectors with an average monthly salary of ₹ 10,000 this year, we trained nearly 200+ beneficiaries and placed about 72% of them.

ProVision Asia

We have been associated with ProVision Asia to support orthopaedically challenged individuals by providing wheelchairs to enhance mobility and promote independence. Under this initiative, we distributed 50 wheelchairs to Persons with Disabilities (PwDs) from underprivileged backgrounds. Additionally, 10 specialty sports wheelchairs were provided to athletes excelling at the state and national levels in tennis, basketball etc.

Testimonial from the
ProVision Asia beneficiary

“Wheelchair tennis gave me strength, but I was held back by limited equipment. With Ujjivan’s support through proVISION ASIA, I received a professional sports wheelchair that transformed my performance and confidence. I’ve since won three state-level medals and now have the chance to compete nationally and internationally. Ujjivan helped me break barriers and believe in a bigger future.”

- Malayatri
Testimonial from the
ProVision Asia beneficiary

“I was introduced to Wheelchair Tennis, a sport I never imagined I could play. From barely knowing the rules to winning 12 medals nationally and internationally, this journey has transformed my confidence and my life. With a proper sports wheelchair and ongoing training support from Ujjivan and proVISION ASIA, I now play with freedom, pride and purpose.”

- Mubina, Tennis Player

As part of our community development initiatives, we facilitated improved and safe mobility for intellectually challenged children/youth associated with Maithree by providing a dedicated van. We also offer academic scholarships to underprivileged students pursuing vocational courses through the Calcutta Social Project, helping them gain employable skills. Additionally, we support the Earth Care Foundation’s Udaan 2.0 project, which provides coaching for the marginalised preparing for competitive exams, empowering them with better career opportunities.

Healthcare Programmes

23

No. of Projects

86,984

No. of Beneficiaries Impacted

Advancing our social interventions under ‘Chote Kadam’, we renovated 13 public healthcare centres and directly supported healthcare projects by providing critical medical equipment for ICUs, ophthalmology departments and pathology labs.

Pink Bus – Patna Smart City Initiative

A defunct bus was converted into a solar-powered mobile toilet with four restrooms, a nursing room and a coffee vending machine to address the need for secure and hygienic sanitation for women in marketplaces lacking toilet facilities in Patna. The bus serves 300 women daily, increasing to 1,500+ during festivals and events.

Provision of Ambulances

We donated ambulances to improve emergency healthcare access at:

Barasat Cancer Research & Welfare Centre, Kolkata: Transporting underprivileged cancer patients from rural Bengal, Bihar and Odisha

Govt. Hospital, Modi Nagar: Serving 35 neighbouring villages

Taki Municipality, N. 24 Parganas: Supporting over 20 villages, aiding socio-economically disadvantaged patients

Guwahati Municipal Corporation: Catering to more than 2,000 patients per month

Indira Gandhi Govt. Hospital, Bhiwandi: Enhancing emergency response services

Ophthalmology Equipment for Tribal Hospitals

We provided a complete ophthalmology testing set to the Civil Hospital, Barnala, and Mandar Hospital, Ranchi, both of which lacked adequate testing facilities for increased patient volumes. Encompassing Auto-Refractor cum Keratometer, Tonometer, and Lens/Auto Refraction set, the testing kit empowered the hospitals to improve diagnostic capabilities for tribal communities.

Education and Sports Programmes

17

No. of Projects

9,547

No. of Beneficiaries Impacted

Digital Empowerment with the Pi Jam Foundation

We are in our second year of partnership with the Pi Jam Foundation, where we continue to train teachers and develop model educators, effectively bridging the digital divide in government and zilla panchayat schools across Satara and Sangli, Maharashtra. This year, we expanded Pi Labs to Khurja, Bulandshahr and Hapur, Uttar Pradesh, equipping students with digital literacy and teaching skills to the teachers of the Govt./Zilla panchayat schools.

Testimonial

“With Ujjivan’s support, we’ve empowered over 1,000 teachers in Maharashtra and Uttar Pradesh with essential digital and teaching skills. This has transformed classrooms into hubs of innovation and curiosity. Our 100 model teachers now lead the way in redefining education, and with Ujjivan, we’ve built a strong community that’s reshaping how students learn and thrive.”

- Shoaib Dar, Pi Jam Founder
Behavioural Skill Development with the Flying Disc Development Foundation

We collaborated with the Flying Disc Development Foundation to use the game of ‘Frisbee’ as a medium of inculcating teamwork, empathy, resilience, discipline, and gender respect among children from urban slum communities, in Delhi NCR. Training sessions held three times a week benefited 150 children, fostering essential life skills through sports.

Environment/Animal
Welfare Programmes

12

No. of Projects

242,334

No. of Beneficiaries Impacted

We established an exclusive Environment and Animal Welfare thematic area to drive resource conservation and animal well-being projects. As part of this effort, we partnered with United Way of Bengaluru to rejuvenate Kanekallu Lake in Hoskote, which is currently affected by pollution. This two-year project is progressing as per plan and is scheduled for completion by FY 2025-26. Additionally, in collaboration with Kovai Kulangal Pudhipippu Amaippu, we are revitalising a pond in Arisipalayam, Tamil Nadu, and a lake in Bavda, Satara, Maharashtra.

Under animal welfare initiatives, we constructed solar-powered animal shelters in Coimbatore and construction of cattle shed in Goghariyan, benefiting 300 cattle. We also conducted tree plantation drives on significant occasions like Kargil Diwas, encouraging school students to participate in environmental conservation.

Furthermore, in partnership with Desai Foundation, we raised awareness in rural schools of Tamil Nadu and Karnataka on the importance of responsible sanitary pad disposal, complemented by the installation of incinerators in school premises.

Disaster Relief

12

No. of Projects

21,353

No. of Beneficiaries Impacted

We remain firm in our commitment to support those in crisis, consistently increasing our fund allocation to relief efforts each year. To expand our impact, we have redefined disaster relief in our CSR policy to address diverse climate change effects, including summer heat waves and fire incidents. This agile approach augments our ability to respond more effectively to emerging environmental challenges and extend support to a greater number of relief projects.

Some of the high impact projects executed under Disaster Relief during FY 2024-25 include:

Project Details No. of Beneficiaries impacted
Fengal Cyclone - Panruti, Cuddalore 10,000
Winter Relief - Distribution of blankets 2,295
Disaster Relief - MFIN - Health camp 2,231
Fengal Cyclone - Mahadevagollahalli 2,000
Winter Relief - Distribution of blankets & woollen caps 1,200
Gujarat Flood Relief 1,000
Disaster-relief - Panskura & Bagnan flood relief 1,000
Project Swachh Neighbourhood

We executed Project Swachh Neighbourhood in FY 2024-25 across our 250 branches pan-India, engaging employees in cleaning office surroundings and planting saplings where possible. Over 6,000 employees participated in this initiative, contributing to the planting of over 6,000 saplings.

Data Management Tool – Ujjivan CSRConnect

We developed Ujjivan CSRConnect, an in-house tool designed exclusively for CSR project management. This tool addresses the need for a centralised data management system and features a detailed dashboard, customisable reports, and an approval workflow with defined turnaround times. Implementation of this mechanism aids in improving efficiency, execution speed and data accuracy.

Volunteering Engagement – Ujjivan SevaMitra

We engaged over 7,280 employees across various CSR projects through Ujjivan Sevamitra, our volunteering programme, fostering a sense of purpose and fulfilment. To recognise and motivate volunteers, we introduced initiatives like e-certificates for participation and special recognition for repeat volunteers at executive committee meetings.

Inclusive Finance - Financial Literacy
  Diksha+ Pro Diksha IL Pragati MSME Non-Ujjivan FLC Total
No. of beneficiaries: 118,653 8,180 5,684 399 2,413 34,375 169,704
No. of training hours 25,820 1,080 386 87 124 2,122 29,619
% of beneficiaries who gained access to one or more financial products 32% 20% 36% 0% 0% 0% 25%
% of Women Beneficiaries 100% 94% 69% 11% 70% 73% 93%
Diksha Pro +

We dedicatedly serve the un-served and the under-served communities by offering tailored financial tools that ensure accessibility and ease. We believe empowering these communities, especially women in marginalised sectors, with financial literacy is vital. Since 2011, financial literacy remains a key focus area, benefiting over 1.4 Million individuals across India. In FY 2024-25, we imparted training to 118,653 beneficiaries on a broad spectrum of financial competencies. As a result, 22% of them adopted digital repayment options like Hello Ujjivan and UPI, highlighting the social and economic relevance of our intervention.

Pragati

We derive a significant portion of our MicroBanking and Rural customer base from the under-served communities, that traditionally lack access to formal banking services. In regions such as Assam, in the aftermath of the financial crisis, we unveiled a specialised financial literacy programme aimed at educating nano-entrepreneurs on effective financial management. This included guidance on diligent planning, budgeting, responsible borrowing, the importance of timely repayment, understanding credit scores, exploring digital banking options, and navigating various products and services. Additionally, beneficiaries were sensitised to prevailing fraudulent activities and the necessary preventive measures to safeguard their financial well-being.

Testimonial from
the Pragati beneficiary

“Ujjivan has been part of my life for 15 years, offering more than just financial support. Through their Pragati Training, I learned to manage my money better and gained the confidence to take control of my finances. That knowledge changed my life, and I proudly encouraged others to join too. Ujjivan has truly been a partner in my progress.”

- Sabya Barman
IL Diksha

We regularly extend our ‘Individual Loan’ products to address the immediate financial needs of marginalised communities. As these customers transition from group loans to individual credit, they face higher stakes, requiring greater accountability and repayment discipline. Recognising the need for product-specific financial literacy, we partnered with Parinaam Foundation to conduct financial literacy programmes across India, incorporating the following aspects:

Basics of Financial
Management
Digital Banking &
Financial Products
Digital Fraud Prevention
Business Development
& Loan Management
Entrepreneurship &
Business Expansion

In FY 2024-25, 8,180 customers received training under the IL Diksha programme, with 94% being women. As a result of this initiative, 39% customers ensured timely loan repayments.

Financial Literacy to MSME Customers (Ujjivan
Entrepreneurship Development Programme (UEDP))

We launched a dedicated financial literacy programme for MSME customers in alignment with the mandate of the Reserve Bank of India (RBI). Piloted in FY 2022-23 and formalised in FY 2023-24, this initiative was aimed at supporting the evolving needs of the sector.

Partnering with Haqdarshak, India’s first social enterprise to digitalise welfare programmes, we cover critical domains such as business financing options, central registrations, and government welfare schemes. Adopting a ‘Train the Trainer’ model, Haqdarshak imparts training to our internal trainers, who then cascade the knowledge to our MSME customers. In FY 2024-25, 399 participants attended the programme, where 11% were women attendees.

Financial Literacy Camps

We organise financial literacy camps at our Unbanked Rural Centres (URCs) as part of our financial inclusion initiatives. During FY 2024-25, camps were held across 177 URCs, following the curriculum and training materials provided by the RBI. These camps trained 34,375 beneficiaries, of which 73% were women.

Testimonial from
the ASHA Worker

“Ujjivan’s training session was an eye-opener. We learned the basics of banking, saving, financial planning, and how to protect ourselves from cyber fraud. For the first time, many of us became aware of government schemes we are eligible for. Thanks to Ujjivan, we now feel empowered to make better financial decisions for our families.”

- Vandhana Bhadange
Social:
Customer

Enhancing Experiences,
Strengthening Relationships.

Our customer centric approach has enabled us consistently to upgrade our digital infrastructure, boost delivery channels, and deliver frictionless frontline engagement. By adopting a structured, data-driven approach, we have refined our people capabilities, operational processes and technology platforms to effectively anticipate and respond to changing customer needs. This strategic focus, has helped us to deliver accessible and reliable services across touchpoints, solidifying our lead as a trusted and responsive financial partner.

Promoting Customer Centricity and Protection

We are committed to delivering exceptional customer service by continuously sharpening our service edge. Through digital innovation, expanded delivery platforms, and a strong feedback-driven approach, we have elevated service standards and enhanced customer convenience. A dedicated Service Quality team anchors this agenda driving experience improvements, addressing grievances swiftly, and ensuring compliance with service benchmarks. By refining our people, processes, and technology, we remain firmly positioned as a leading customer-centric institution.

A Unique Service Index Programme

To consistently exceed customer expectations, we have institutionalised the Service Index programme over the past seven years. This innovative programme tracks our service standards through predefined ~160 parameters and benchmarks, enabling us to identify areas of improvement and drive ongoing enrichment. The Service Index is embedded in our performance evaluation framework from the MD & CEO to frontline staff ensuring service excellence is a shared responsibility.

Service Index Score: Improved to 93 (March, 2025) from 89 (March, 2024) and 85 (March 2023)

Service Recovery Programme

We prioritise service excellence and proactively address service lapses through a dedicated Service Recovery and Incident Management programme. By identifying issues early, conducting root cause analysis, and ensuring swift resolution, we prevent escalation and reinforce customer trust and loyalty.

Promoting Service Excellence by Building a “Service First” Culture

In line with our commitment to customer service and protection, we emphasise equipping all customer-facing staff with the right knowledge and skills to consistently deliver exceptional experiences.

Custom-designed training for secured asset servicing

As we expand our secured asset portfolio, a need was identified to strengthen frontline staff capabilities in this area. While staff were adept at handling liability products, servicing secured assets required focused training. A comprehensive programme was rolled out covering loan application flows, account servicing, and digital tools. This has led to faster query resolution, improved customer satisfaction, reduced errors, and enhanced staff confidence and productivity.

Key highlights: Modules delivered in FY24-25: 49 Modules delivered in FY23-24: 25
SQ Friday School

We believe exceptional customer service stems from continuous learning. The SQ Friday School initiative was launched to build frontline service capabilities through weekly, branch-level training. Every Friday, short training modules curated by the Service Quality team are shared with branch staff and delivered by Branch Managers for immediate learning application.

These modules focus on core service areas such as complaint handling, life-event services, and real-life case studies. Topics are selected based on customer feedback, service observations, and staff knowledge gaps ensuring relevance and impact. The initiative has significantly improved service precision and customer satisfaction, while reinforcing a culture of continuous improvement. All modules are archived on our intranet and LMS platform Swayam for easy access.

Aajeevan Services – A Compassionate Approach to Life Events-Based Banking Services

We understand that during life’s key moments—whether joyful or challenging—customers need empathy, support, and assurance. Aajeevan is our unique, life events-based banking service programme designed to help customers navigate such moments with care and ease. Introduced at Ujjivan inception, the programme offers services such as nomination facilities, joint accounts, claims settlement for deceased account holders, insurance claim support, and doorstep banking for senior citizens and differently abled customers. With empathy and efficiency at its core, Aajeevan simplifies processes and ensures staff are trained to respond with sensitivity. A dedicated one-day workshop was conducted for 934 frontline and sales staff across 46 batches during the year to strengthen delivery.

Key highlights:
Aajeevan request resolution rate: 99% in FY 2024-25 and FY 2023-24 (up from 94% in FY 2022-23) Deposits with nomination: 96% in FY 2024-25 (vs. 94% in FY 2023-24 and 92% in FY 2022-23) Deceased claims settlement: 100% within standard TAT

Rewarding services that inspires

Recognising and Celebrating Service Excellence

We have institutionalised multiple recognition platforms that celebrate employees who go above and beyond to deliver exceptional customer experiences.

Social Media Appreciation Broadcasts

Employees who go the extra mile are acknowledged by customers, and their stories are featured on our official social media platforms—building pride and inspiring others.

Executive Committee Recognition

To champion service excellence from the highest level, staff receiving customer appreciation are recognised by the Executive Committee on the first Monday of every month. These commendations are also shared on social media, showcasing our service heroes and amplifying their impact.

Aajeevan Service Champions

Under the Aajeevan life-event-based banking programme, 145 Customer Care Representatives were recognised for their outstanding contributions in delivering compassionate, high-impact service.

Service Excellence Annual Award

Launched in 2024 based on the Board’s recommendation, this prestigious award honours individuals who consistently deliver superior customer or internal service over a two-year period. Eligible contributions include:

  • Consistent field-level excellence in customer service
  • Implementation of process or system innovations that improve efficiency and enhance experience

Each year, up to six employees are awarded with a cash prize, trophy, and certificate signed by the Managing Director (MD). The awards are presented during the Annual Summit by the Board of Directors. Success stories of winners are widely shared across the organisation to reinforce the spirit of service excellence.

Customer Service Committee Meetings – “Let’s Connect”

Aligned with RBI guidelines and our service commitment, every branch conducts a monthly Customer Service Committee Meeting on the first Saturday. Branded as “Let’s Connect – Aapki Baat Bank ke Saath,” the initiative empowers customers to voice feedback, raise concerns, and co-create better service experiences. These sessions also serve as a platform for customer education, with the Service Quality team sharing a new topic each month to raise awareness about banking services.

Key highlights:
Meetings conducted across branches: Monthly Total participants: 78,358 customers Outcome: Enhanced transparency, issue resolution, and customer trust
Special Care for Senior Citizens and Differently Abled Customers

We believe banking should be inclusive and accessible for all. To support customers with mobility challenges, we offer free doorstep banking for senior citizens and differently abled individuals. With a simple call to customer care, eligible customers can avail up to four free services per month—including cash withdrawal/deposit, cheque pickup, DD delivery, and KYC updates—from the comfort of their homes. In addition, priority service counters are available at every branch, ensuring zero wait time for senior citizens and differently abled customers.

Reliable Mechanism for Resolution of Customer Grievances

Customer care and timely problem resolution remain key priorities for Ujjivan. We have implemented a robust grievance redressal mechanism designed not only to resolve complaints within defined timelines but also to identify root causes and implement corrective actions to reduce recurrence. Despite significant growth in customer acquisition and digital transaction volumes over the years, the number of customer complaints has consistently declined over the last five years, reflecting our commitment to service quality and continuous improvement.

Year On Year FY 2024-25 FY 2023-24 FY 2022-23 FY 2021-22 FY 2020-21 FY 2019-20
Count of Customer Complaints 15,553 19,610 22,740 22,812 26,985 36,560
Reducing Trend (%) (21%) (14%) (0.32%) (15%) (26%) -

Resolution of customer service requests within standard turn-around-time has improved to 95% in FY 2024-25 from 94% in FY 2023-24 and 90% in FY 2022-23.

The resolution of customer complaints within standard turn-around time has improved to 99% in FY 2024-25 from 98% in FY 2023-24 and 96% in FY 2022-23

Customer Testimonials

“Ujjivan has been my trusted financial partner since 2019. From starting my tailoring business to funding my son’s education and research, their support, especially through the Gold Loan, has been seamless, quick and truly life-changing. Heartfelt thanks to the team.”

-A. B. Parikh, Gold Loan customer

“Ujjivan has made banking simple and stress-free for me. The staff is friendly, the mobile app is easy to use, and managing my savings has never been more convenient. I'm truly happy with my experience over the past year.”

-Sumit Mansulchbhai Sorathiya, Maxima Savings Account customer

“As a small business owner, Ujjivan has been the perfect banking partner. Their prompt service and helpful account features make managing my business finances easy and efficient. In just 6 months, it’s already become a relationship I truly value.”

-Sohel Rajpura, Current Account customer

“Ujjivan made my home loan journey smooth and stress-free. Their team was efficient, supportive and proactive, ensuring timely disbursal and seamless documentation. I’m truly grateful for their dedication and customer-first service at every step.”

-Anuradha Singh, Home Loan customer
Governance

Governing with
Purpose & Prudence

We view good governance as the stepping stone for sustainable growth and long-term success. By upholding the highest standards of ethics, transparency and accountability, we continue to foster trust and confidence among all our stakeholders. Our governance framework is designed to ensure strong vigilance and advance our commitment to responsible, principled business practices, crafting an upward trajectory for enduring value creation.

Governance Framework

We anchor our governance practices in regulatory guidelines and global best practices, particularly those outlined by the Basel Committee. We follow a clear and effective lines of defence model:

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What are the Control Functions in Lines of Defence?

Second Line of Defence

Includes members from the risk, compliance, and vigilance teams, who operate independently and free from business targets. These functions report directly to the Board Committees, ensuring unbiased opinions

Third Line of Defence

Internal Audit acts as an independent assurance function, evaluating the effectiveness of risk management and internal controls. It reports directly to the Audit Committee of the Board

A Diverse and Experienced Board

We are governed by a robust and diverse Board, which includes a majority of Independent Directors with expertise across key areas spanning banking, finance, law, IT, risk management and financial inclusion. The Board plays a central role in steering our strategic direction and ensuring effective oversight - laying the foundation for sustained success. The Board is supported by all mandatory committees as per the Companies Act, Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR), and Reserve Bank of India RBI guidelines:

Audit Committee

Customer Service Committee

Fraud Monitoring Committee

Risk Management Committee

Shareholders Relationship Committee

Committee of Directors

Nomination and Remuneration Committee

Corporate Social Responsibility Committe

Policies that Promote Ethical Conduct

We deploy a wide array of governance-related policies to institutionalise ethical practices and strengthen internal accountability, including:

  • Code of Conduct for Employees and Directors
  • Insider Trading Policy
  • Corporate Governance Code
  • Board Diversity Policy
  • Whistle Blower Policy
  • Board Performance Evaluation Framework

Customer Centric Governance

We formulate customer-facing policies to promote fairness, transparency and trust in every interaction:

  • Fair Practices Code
  • Customer Rights Policy
  • Customer Grievance Redressal Policy
  • Customer Compensation Policy
  • Deceased Claims Settlement Policy

Our New Product Approval and Service Charge Policies ensure customers receive timely notice and complete clarity on changes, prioritising transparency and accountability in our offerings.

People Centric Policies and Culture

We are committed to cultivate an ethical, inclusive and growth oriented internal ecosystem. Encompassing care, opportunity and long-term value, our employee policies include:

  • Holidays & Leave Policy
  • Staff Loan Policy
  • Learning & Development Programmes
  • Employee Grant Scheme
  • Performance-based ESOPs

These initiatives help build a motivated, future-ready workforce, ensuring alignment with our strategic goals and accountability in our offerings.

Risk and Compliance Safeguards

We leverage a comprehensive set of policies to bolster our risk governance architecture, including:

  • Compliance Policy
  • Internal Audit Policy
  • Fraud Management Framework
  • Anti-Bribery and Anti-Corruption Policy
  • Environmental & Social Management Systems

Adhering to Statutory Obligations

We diligently comply with statutory obligations through structured policies on:

  • Related Party Transactions
  • Dividend Distribution
  • Determination of Materiality
  • Archival Policy
  • Nomination and Remuneration
  • Prevention of Sexual Harassment

Governance that Builds Long-Term Value

Our governance framework, pivots around the objectives of serving with integrity, growing with accountability and leading with transparency. By persistently pursuing prudent financing, open disclosures and fair customer practices, we remain firm in our commitment to doing what’s right in all our endeavours.

Treasury
Risk Management