RBI returns Jana Small Finance Bank's application to transition into universal bank
29 Oct 2025, 04:05 PMThe reason for returning the application was due to non-fulfilment of the criteria mentioned in the RBI circular.
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Jana Small Finance Bank Ltd has said that the Reserve Bank of India (RBI) has returned its application to transition into a universal bank.
The reason for returning the application was due to non-fulfilment of the criteria mentioned in the RBI circular in this regard, said Jana Small Finance Bank in a filing to the stock exchanges.
It did not disclose further details.
Earlier in June, Jana Small Finance Bank had formally submitted the application to the central bank seeking approval to transition into a universal bank.
Since receiving its Small Finance Bank license in 2017, Jana Small Finance Bank "has built a robust portfolio in deposits, loans, and financial services tailored to individuals, micro small and medium enterprises (MSMEs), and institutions", the bank had said while submitting the application.
The bank's net interest income grew 12.5% to Rs 2,393 crores in FY25 from Rs 2,128 crores in FY24, according to its annual report. Its net profit dropped to Rs 501 crores in FY25 as compared to Rs 670 crores in FY24.
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