Shivalik became the first Small Finance Bank in India to transition from an Urban Co-operative bank namely Shivalik Mercantile Co-operative Bank (SMCB). Founded in 1998 by Mr. Yashvir Kumar Gupta, with Mr. Suveer Kumar Gupta serving as its MD & CEO, till transition into Shivalik Small Finance Bank (SSFB). Mr. Suveer Kumar Gupta, who played a crucial role in this transition, not only served as the first MD & CEO of SSFB but also continues to contribute as an Advisor to the Board.