RBI rejects Ujjivan SFB’s application for universal banking licence | Banking

Ujjivan Small Finance Bank on Monday stated RBI has rejected its application to transition to a universal financial institution and suggested it to reapply after demonstrating a diversified mortgage portfolio.

In a regulatory submitting, Ujjivan SFB stated the Reserve Bank has taken be aware of the financial institution’s current efforts in direction of diversification of its mortgage portfolio.

“However, they were of the view that there is scope for progress in this area. Therefore, RBI has returned the above-mentioned application and advised the bank to consider applying again after demonstrating a diversified loan portfolio,” Ujjivan stated.

In February 2025, Ujjivan SFB had introduced submitting an application for universal banking licence to the Reserve Bank of India (RBI).

Shares of Ujjivan closed at Rs 60.34 apiece on the BSE.

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