Mumbai, April 15 (IANS) Shares of Ujjivan Small Finance Bank fell sharply on Wednesday after the Reserve Bank of India returned its application for a universal banking licence, even as the broader market traded higher.The stock dropped as much as 5.94 per cent to hit an intra-day low of Rs 56.75 on the Bombay Stock Exchange (BSE), compared to its previous close of Rs 60.34.The decline came in contrast to the positive trend in the wider market, with the Sensex rising over 1.6 per cent amid improv…
Latest Ujjivan Small Finance Bank News & Updates
Mumbai, April 13 (IANS) The Reserve Bank of India (RBI) has returned the universal banking licence application filed by Ujjivan Small Finance Bank (SFB) on the grounds that the lender has not sufficiently diversified its asset book to qualify for it, according to an exchange filing.“The RBI, through their aforesaid letter, took note of the Bank’s recent efforts towards diversification of its loan portfolio. However, they were of the view that there is scope for progress in this area. Therefore…