Small finance banks seek an urgent extension of time limit for listing

Small finance banks (SFBs) have sought an urgent extension of the time limit for their listing — after having met some financial conditions — to eight years from six currently.

These banks have cited the “accepted recommendations 31 and 27” of the Reserve Bank of India’s (RBI’s) Internal Working Group (IWG) to buttress their request.

On November 25 last year, the RBI had said it had accepted 21 recommendations of the 33 made by the IWG.

Jana SFB, Utkarsh SFB, Fincare SFB, and ESAF SFB, which have their initial capital floats in the pipeline, will