Established in 2008 initially as an Urban/semi Urban focused MFI business, Suryoday transformed to a Small Finance Bank in 2017, after being chosen among 1 of the 10 entities out of 74 who applied for the banking license. Suryoday serves ~11.5 lakh clients & operates across 376 locations employing ~3,923 employees as of March 2019. It has been founded by R. Baskar Babu who has over 20 years of Financial Services experience and was the erstwhile head of Quality & Operations in GE Capital.