ESAF Small Finance Bank creates micro banking vertical with 5,200 staff

ESAF Small Finance Bank has absorbed 5,200 employees from ESAF Swasraya Multi-State Agro Co-operative Society Ltd (ESMACO) as part of a strategic business restructuring. The bank will now directly manage the microloan portfolio, which was previously managed by ESMACO through banking outlets. The micro banking vertical will primarily serve the needs of the rural population through micro-loans, agriculture loans, vehicle loans, and home loans.