Ujjivan Small Finance Bank submits application for universal banking licence to RBI

Ujjivan Small Finance Bank connected Tuesday announced the submission of the exertion for cosmopolitan banking licence to the Reserve Bank of India (RBI). This measurement aligns with the bank's semipermanent imaginativeness to fortify its offerings and presumption successful the sector, Ujjivan Small Finance Bank said successful a statement.

The slope has consistently demonstrated beardown fiscal show and a committedness to fiscal inclusion, serving a divers aspiring lawsuit base, it said.

Ujjivan is prepared to articulation the ranks of cosmopolitan banks, considered a precise important milestone successful its evolution, taxable to RBI granting support to its application, it said.

Securing the Universal Banking licence, if approved, volition fortify Ujjivan's efforts to supply holistic fiscal services to its customers and empower each aspiring Indians with a wider scope of banking solutions, it said.

Last year, AU Small Finance Bank submitted an exertion to the RBI seeking support for a cosmopolitan slope licence.

The RBI, successful April past year, invited applications from tiny concern banks gathering specified criteria, including a minimum nett worthy of Rs 1,000 crore, for becoming regular oregon cosmopolitan banks.