BENGALURU (Reuters) -The Reserve Bank of India said on Friday it has declined the application of Annapurna Finance for setting-up a universal bank.
“The applicant was not found suitable for granting of in-principle approval to set up a universal bank,” the RBI said in a statement.
(Reporting by Nishit Navin in Bengaluru; Editing by Shilpi Majumdar)
