As the entities given licences to establish small finance banks (SFBs) scurry to beat the Reserve Bank of India (RBI) deadline of April 2017, equity fund raising has picked up. In September 2015, RBI had granted in-principle licences to set up 10 SFBs. Jalandhar-based Capital Local Area Bank could be the first to start operation. It has sent the required documents for final regulatory approval to RBI and set April 13 as the deadline for starting operations. The bank has already raised Rs 17.3 crore through a rights issue, and is looking for further capitalisation before May, said Sarvjit Singh Samra, managing director. ESAF Microfinance, which also has an in-principle licence to start an SFB, plans to raise Rs 100 crore through a rights issue. It is also looking to raise close to Rs 200 crore through private placement of equity with foreign investors, "subsequently, for expansion", said K Paul Thomas, chairman. Disha Microfinance has readied plans to raise about Rs 30