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Jana Small Finance Bank's application to become a universal bank has been returned by the Reserve Bank of India due to non-fulfilment of criteria. While the exact reasons are yet to be clarified, the bank plans to rectify issues and reapply. This setback postpones plans to reduce funding costs, though daily operations remain largely unaffected. Mumbai, Jana Small Finance Bank on Tuesday said the Reserve Bank of India (RBI) has returned its application to become a universal bank due to non-fulfi ...Read More >
Mumbai: Jana Small Finance Bank (SFB) on Tuesday said that the Reserve Bank of India (RBI) has returned its application to transition into a universal bank, citing non-fulfilment of the required eligibility criteria. The bank had submitted its application earlier this fiscal year (FY26) after meeting one of the key conditions under RBI's framework -- maintaining gross non-performing assets (NPAs) below 3 per cent and net NPAs under 1 per cent for two consecutive years. However, the central ban ...Read More >
The bank staff said there were six employees, including the manager, inside at the time. Jabalpur: In a major daylight heist, armed robbers looted gold worth more than Rs 14.8 crore and Rs 5.7 lakh in cash from a bank in the Khitola area, about 50 km from Jabalpur, this morning. The robbery took place around 11 am at the Isaf Small Finance Bank branch, with suspects threatening staff at gunpoint before fleeing within minutes. According to the police, the robbers -- believed to be six in numbe ...Read More >
MUMBAI: RBI has directed banks and NBFCs to stop levying pre-payment charges on all loans granted for business purpose to individuals and MSEs, with or without co-obligant(s). Small finance bank, urban co-operatives and regional rural banks shall also not levy any pre-payment charges on loans with sanctioned amount/ limit up to ₹50 lakh. The directions are applicable irrespective of the source of funds used for pre-payment of loans, either in part or in full, and without any minimum lock-in per ...Read More >
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