“…SFBs are a type of bank established by the RBI under the direction of the Government of India with the goal of promoting financial inclusion by providing basic banking services to underserved and poorly served segments such as small businesses, small and marginal farmers, micro and small industries, and unorganized entities. So, micro elements such as efficiency, ECS Transactions, 107 (1) 8321-8328 (2022) liquidity, leverage, and banking business of SFBs are critical in determining profitability in the early stages of operation (26).…”