1️⃣ scheduled status with a satisfactory track record of performance for a minimum period of five years;
2️⃣ shares of the bank should have been listed on a recognised stock exchange;
3️⃣ having a minimum net worth of ₹1,000 crore as at the end of the previous quarter (audited);
4️⃣ meeting the prescribed CRAR requirements for SFBs;
5️⃣ having a net profit in the last two financial years; and
6️⃣ having GNPA (gross non-performing assets) and NNPA (net non-performing assets) of less than or equal to 3 percent and 1 percent respectively in the last two financial years.
*The following conditions shall be applicable with regard to shareholding pattern:*
🔖 There is no mandatory requirement for an eligible SFB to have an identified promoter. However, the existing promoters of the eligible SFB, if any, shall continue as the promoters on transition to Universal Bank.
🔖 Addition of new promoters or change in promoters shall not be permitted for an eligible SFB while transitioning to Universal Bank.
🔖 There shall be no new mandatory lock-in requirement of minimum shareholding for existing promoters in the transitioned Universal Bank.
🔖 There shall be no change to the promoter shareholding dilution plan already approved by the Reserve Bank.
🔖 The eligible SFBs having diversified loan portfolio will be preferred.
RBI Notification:
RBI/2024-25/28
DOR.LIC.REC.20/16.13.218/2024-25
April 26, 2024
