Equitas SFB: 'We may apply for universal banking licence within a year'

Equitas Small Finance Bank aims to triple advances to ₹1.2 trillion in five years with a 20% annual growth rate.

The bank has fulfilled RBI asset-quality conditions for universal banking, including low gross NPA and NNPA.

Equitas may apply for a universal banking licence within a year, after consulting with RBI and ensuring supervisory comfort.

The bank has diversified its portfolio, with a focus on reducing risk and increasing competitiveness in the informal to semi-formal borrower segment.