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Shares of Jana Small Finance Bank Ltd. will be in focus on Tuesday, October 28, after the lender said that the Reserve Bank of India (RBI) has returned its application for voluntary transition to a Universal Bank.
The central bank returned the application citing non-fulfilment of the eligibility criteria, Jana Small Finance Bank said in its exchange filing.
The bank had submitted the application in June 2025, seeking approval to transition from a small finance bank to a full-fledged universal bank.
"Applying for a Universal Banking license is a natural progression for Jana," Ajay Kanwal, Managing Director & CEO of Jana Small Finance Bank, had said at the time. "Our mission has always been to serve the underserved and build a bank that’s inclusive, agile, digital, and forward-looking. Becoming a Universal Bank will enable us to offer a broader range of services and become the anchor bank to a rising and Atmanirbhar India."
Shares of Jana Small Finance Bank ended Monday's trade 1.74% higher at ₹453.60. The stock has gained nearly 12% so far in 2025.
The central bank returned the application citing non-fulfilment of the eligibility criteria, Jana Small Finance Bank said in its exchange filing.
The bank had submitted the application in June 2025, seeking approval to transition from a small finance bank to a full-fledged universal bank.
"Applying for a Universal Banking license is a natural progression for Jana," Ajay Kanwal, Managing Director & CEO of Jana Small Finance Bank, had said at the time. "Our mission has always been to serve the underserved and build a bank that’s inclusive, agile, digital, and forward-looking. Becoming a Universal Bank will enable us to offer a broader range of services and become the anchor bank to a rising and Atmanirbhar India."
Shares of Jana Small Finance Bank ended Monday's trade 1.74% higher at ₹453.60. The stock has gained nearly 12% so far in 2025.
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