BS BFSI Summit: SFBs should look beyond universal licence, says R Gandhi

Ex-RBI deputy governor says they must become financial conglomerates

Small finance banks (SFBs) should aim to grow into financial conglomerates based on their experience, instead of becoming universal banks, as there is huge scope for these entities to serve the same clientele in terms of investment and insurance offering, said R Gandhi, former deputy governor of Reserve Bank of India (RBI).

Delivering the keynote address at the Business Standard’s BFSI Insight Summit session on SFBs, Gandhi said: “That is the growth path I would suggest for the SFBs rather than losing their focus becoming universal banks and by being in all types of business. You should play a specific,