Regulatory13 Apr 2026, 07:01 pm
RBI returns Ujjivan SFB's Universal Banking application
AI Summary
Ujjivan Small Finance Bank Ltd. announced that the Reserve Bank of India (RBI) has returned its application for a Universal Banking license. The RBI, in a letter dated April 13, 2026, acknowledged the bank's efforts towards diversifying its loan portfolio but indicated that further progress is needed in this area. Consequently, the RBI advised the bank to consider reapplying once it has demonstrated a more diversified loan portfolio. This development signifies a delay in Ujjivan SFB's plans to transition into a Universal Bank.
Key Highlights
- RBI returned Ujjivan SFB's Universal Banking application.
- Reason cited was insufficient diversification of the loan portfolio.
- Bank advised to reapply after demonstrating better diversification.
- This delays Ujjivan SFB's transition to a Universal Bank.