Jana Small Finance Bank’s universal bank transition plan was rejected by the RBI for not meeting the eligibility norms set in its circular.

• RBI cited unmet eligibility norms like profitability, asset quality, and net worth requirements for universal bank conversion approval.
• The move delays Jana Bank’s expansion strategy and plans to diversify its product portfolio under a universal banking model.
• Operating since 2018, Jana SFB remains India’s fourth-largest small finance bank with 814 branches across 23 states and 2 UTs.