Jana SFB may apply for universal bank licence in next financial year

Last week, the Reserve Bank of India spelt out a glide path for SFBs to convert into universal banks.

Bengaluru-based Jana Small Finance Bank (Jana SFB) is planning to apply for a universal bank licence during the next financial year (FY26). This will come after meeting the net non-performing asset (NPA) requirement of less than 1 per cent for two consecutive years, managing director (MD) and chief executive officer (CEO) Ajay Kanwal told Business Standard.

Last week, the Reserve Bank of India (RBI) spelt out a glide path for SFBs to convert into universal banks.

Among others, one condition is having net and gross NPAs of less than 3 per cent and 1 per cent, respectively, for two consecutive