Jana Small Finance Bank shares surged over 12 percent in Friday's trading session after the Reserve Bank of India (RBI) granted the AD-I license for forex operations.
The news led to sharp increase in shares of Jana Small Finance Bank Ltd which rose 12.22 percent to an intraday high of Rs 491 per share on the NSE.
The company in an exchange filing, said "the Reserve Bank of India vide its letter dated 06th March 2025 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange."
Jana Small Finance Bank reported a 17.8 percent year-on-year decline in net profit to Rs 110.6 crore for the third quarter ending December 31, 2024, compared to Rs 134.6 crore in the same period last year.
The bank's assets under management (AUM) stood at Rs 27,984 crore as of December 2024, reflecting a 19 percent YoY growth, with 68 percent of assets being secured.
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