RBI Rejects Ujjivan SFB Universal Bank Bid
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RBI rejects Ujjivan Small Finance Bank''s application for a universal banking license, citing need for loan portfolio diversification.
Photograph: Danish Siddiqui/Reuters
New Delhi, Apr 13 (PTI) Ujjivan Small Finance Bank on Monday said RBI has rejected its application to transition to a universal bank and advised it to reapply after demonstrating a diversified loan portfolio.
In a regulatory filing, Ujjivan SFB said the Reserve Bank has taken note of the bank's recent efforts towards diversification of its loan portfolio.
"However, they were of the view that there is scope for progress in this area. Therefore, RBI has returned the above-mentioned application and advised the bank to consider applying again after demonstrating a diversified loan portfolio," Ujjivan said.
In February 2025, Ujjivan SFB had announced submitting an application for universal banking licence to the Reserve Bank of India (RBI).
Shares of Ujjivan closed at Rs 60.34 apiece on the BSE.
In a regulatory filing, Ujjivan SFB said the Reserve Bank has taken note of the bank's recent efforts towards diversification of its loan portfolio.
"However, they were of the view that there is scope for progress in this area. Therefore, RBI has returned the above-mentioned application and advised the bank to consider applying again after demonstrating a diversified loan portfolio," Ujjivan said.
In February 2025, Ujjivan SFB had announced submitting an application for universal banking licence to the Reserve Bank of India (RBI).
Shares of Ujjivan closed at Rs 60.34 apiece on the BSE.
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