RBI announces Decision on an application received under Guidelines for ‘on tap’ Licensing of Universal Banks

The Reserve Bank has completed the examination of the application of Annapurna Finance Private Limited for setting-up a universal bank. Based on the assessment of the application as per the procedure laid down under extant guidelines, the applicant was not found suitable for granting of in-principle approval to set up a universal bank.

(Puneet Pancholy)  
Chief General Manager

Press Release: 2025-2026/500