Jana Bank will be applying for the Universal Banking Licence. The story has just begun.
This is the advantage of buying SFBs.
At present, the only SFB eligible* to apply for UBL is AU Small Finance Bank.
However, it is currently in the process of merging with Fincare SFB which will take atleast a year.
Jana SFB presently doesnt meet the asset quality criteria laid out by RBI for a UBL application.
It will take them 2-3 yrs. to apply for UBL.
However, there is a path laid out now to transition to a Universal Bank for them
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