Ujjivan Small Finance Bank (Ujjivan) has officially submitted its application for a Universal Banking licence to the Reserve Bank of India (RBI), marking a significant step in the bank’s evolution. This move aligns with Ujjivan’s long-term strategy to strengthen its position in the banking sector and further enhance its customer offerings.
Mr. Sanjeev Nautiyal, MD & CEO of Ujjivan Small Finance Bank, commented on the development, stating, “Securing the Universal Banking licence will enable us to offer a broader range of banking services, continuing our mission to empower millions of aspiring Indians.” He highlighted the bank’s focus on financial inclusion and commitment to serving diverse customer segments nationwide. Ujjivan’s recent Q3 FY2025 results reflect continued positive growth, with a notable increase in its secured loan book, now contributing 39% to the overall loan portfolio.
The bank has also reduced interest rates on Group and Individual Loans, making it one of the most competitive small finance banks in terms of pricing. In Kolkata, where Ujjivan has seen significant demand for its accessible financial products, the move toward a Universal Banking licence is expected to further elevate its competitive edge, especially in a market that is increasingly adopting digital and microfinance solutions. Ujjivan Small Finance Bank operates 753 branches across 26 states and union territories, serving over 93 lakh customers.
