Jana Small Finance Bank may apply for universal bank licence this month

Jana Small Finance Bank will join AU Small Finance Bank and Ujjivan Small Finance in the list of the small finance banks that are seeking a universal banking licence from the RBI

Jana Small Finance Bank (SFB) is looking to apply to the Reserve Bank of India (RBI) for a universal banking licence this month, after it closed financial year 2024-25 (FY25) with gross non-performing assets (NPA) and net NPA ratio of below 3 per cent and 1 per cent, respectively, for two consecutive years.

 

“We will apply this quarter, most likely in May,” Jana SFB Managing Director and Chief Executive Officer (MD & CEO) Ajay Kanwal said in an interaction with Business Standard. With a universal banking licence, the price the bank is paying for deposits will come down, Kanwal said,