AU Financiers converts to small finance bank

AU Financiers India, a non-banking finance company (NBFC), has converted itself into a small finance bank by the name AU Small Finance Bank.

AU obtained a fresh certificate of incorporation from the Corporate Affairs Ministry on April 13, 2017, and the Reserve Bank of India on April 19, 2017, notified the commencement of operations of this small finance bank.
As an NBFC, AU had a network of 300 branches spread across 10 States namely Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Punjab, Delhi, Haryana, Himachal Pradesh, Chhattisgarh, and Goa.

    Takeaways from above News-
    • AU Financiers India converted itself into a small finance bank
    • New Name is AU Small Finance Bank
    • Mr. Mannil Venugopalan is the Chairman of Board of AU small financial Bank

    If you have any other takeaways, do share with us in the comment section
    Source- Business Line

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