Jana Small Finance Bank’s shares slipped more than 5% in early morning trade after the Reserve Bank of India (RBI) returned its application for voluntary transition to a Universal Bank. The central bank cited non-fulfilment of specific eligibility criteria outlined in its guidelines for such transitions.
In an exchange filing, Jana Small Finance Bank stated, “We wish to convey that the RBI has returned the application made for Voluntary Transition to Universal Bank due to non-fulfilment of the criteria mentioned in the RBI circular in this regard.”
The move comes after the bank’s earlier filing dated June 9, 2025, regarding the same application.
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