Ujjivan SFB board to decide universal bank transition timelines in FY25

Ujjivan SFB's gross and net NPA ratio were 2.1 per cent and 0.3 per cent in March 2024. The ratios were at 2.6 per cent and 0.4 per cent as on March 2023

Ujjivan Small Finance Bank (SFB), which has become eligible for a universal bank status after reporting its FY24 earnings over the weekend, has said its board will consider the timeframe for such a conversion in the current financial year.

“We are eligible based on all the numbers, but we are not rushing into it. We have just completed a reverse merger,” Ittira Davis, managing director and chief executive of the Bangaluru-based lender, told Business Standard in a telephonic interaction.

The Reserve Bank of India (RBI) recently announced a set of norms outlining a glide path for small finance banks to