Ujjivan Small Finance Bank (Ujjivan), one of the leading small finance banks has announced the submission of the application for Universal Banking licence to the Reserve Bank of India (RBI). This step aligns with the Bank’s long-term vision to strengthen its offerings and its position in the sector.
The Bank has consistently demonstrated strong financial performance and a commitment to financial inclusion, serving a diverse aspiring customer base. Ujjivan is prepared to join the ranks of universal banks, considered a very significant milestone in its evolution, subject to RBI granting its approval to its application. Commenting on the development, Mr. Sanjeev Nautiyal, MD & CEO, Ujjivan Small Finance Bank said, “Following the guidelines set by the Reserve Bank of India (RBI), we have submitted our application today and are seeking the regulator’s approval for the voluntary transition from a Small Finance Bank to a Universal Bank.”
The Bank recently announced its Q3 FY2025 results showcasing positive growth momentum across its business segments. The diversification of loan book has seen accelerated results, with the secured segment contributing to 39% to the overall loan book.
