AU Small Finance Bank kick-starts operations
The transformation of AU from a NFBC to a small finance bank is over. It has informed BSE as it has received Banking licence from Reserve Bank of India to convert its existing Non-banking Finance Company (NBFC) to Small Finance Bank (SFB), it has done so, and hence w.e.f April 13, 2017., the Company changed its existing name from Au FINANCIERS (INDIA) LIMITED to AU SMALL FINANCE BANK LIMITED. The new web address of AU Small Finance Bank is https://www.aubank.in/ . The landing page on the webpage displays this message. In order to leverage the RBI License for Small Finance Bank, AU management have finalised a three-pronged operating model i.e Focus on existing customer base, be cost efficient and have technology driven hub-and-spoke branches. ...