New Launch9 Jun 2025, 07:27 pm
Jana Small Finance Bank Seeks Approval for Voluntary Transition to Universal Bank
AI Summary
Jana Small Finance Bank Ltd has submitted an application to the Reserve Bank of India (RBI) on 9th June 2025 for voluntary transition from a Small Finance Bank to a Universal Bank. This decision is in accordance with the RBI Guidelines for 'on tap' Licensing of Small Finance Banks in the Private Sector dated 05th December 2019 and the RBI circular on Voluntary Transition of Small Finance Banks to Universal Banks dated 26th April 2024.
Key Highlights
- Jana Small Finance Bank has applied for voluntary transition from a Small Finance Bank to a Universal Bank.
- The application has been submitted to the Reserve Bank of India (RBI) on 9th June 2025.
- The transition is in accordance with the RBI Guidelines for 'on tap' Licensing of Small Finance Banks in the Private Sector dated 05th December 2019.
- The transition also follows the RBI circular on Voluntary Transition of Small Finance Banks to Universal Banks dated 26th April 2024.