RBI Grants AD-I Licence to Jana Small Finance Bank, Shares Surge 12%
2025-03-07
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Business Standard
In a significant development, Jana Small Finance Bank has been granted an Authorised Dealer-I (AD-I) licence by the Reserve Bank of India (RBI), enabling it to undertake foreign exchange transactions. Under the Foreign Exchange Management Act (FEMA), the RBI regulates foreign exchange and authorises select financial institutions to act as intermediaries. This move is expected to boost the bank's growth and expansion plans, with shares rising by 12%. The licence will facilitate the bank's entry into the foreign exchange market, enhancing its services for customers. Key terms like foreign exchange transactions, RBI regulations, and financial institutions will be crucial in this context.
