Would like to build Unity Bank before IPO to create best value: Bindra

Centrum Group Chief Jaspal Bindra outlines unity bank's expansion strategy, universal bank ambitions and IPO timeline, alongside plans for portfolio diversification and capital strength

Jaspal Bindra, executive chairman, Centrum group, which holds 51 per cent in Unity Small Finance Bank, talk to Subrata Panda & Manojit Saha of the strategy for converting the bank into a universal bank. Edited excerpts:

 

Now that the Reserve Bank of India has approved one small finance bank’s transition into a universal bank, has the process become clearer for existing banks like yours?

 

The transition map was there from the start, but now we have seen one actual conversion happen. There are five criteria you have to meet. However, over and above that, there is a discretionary element. That