Bengaluru, April 15 -- The shares of this small finance bank plummeted around 6 percent in today's trading session following the lender's announcement that its application to convert into a universal bank was returned by the Reserve Bank of India, raising concerns over its growth roadmap.

With a market capitalisation of Rs 11,329.03 crore, the shares of Ujjivan Small Finance Bank Ltd were trading at Rs 58.29 per share, decreasing around 3.40 percent as compared to the previous closing price of Rs 60.34 apiece.

RBI Setback Impact

The shares of Ujjivan Small Finance Bank Ltd have seen bearish movement after the RBI returned its application to transition into a universal bank. While the regulator acknowledged efforts to diversify the loan...