RBI allows AU Small Finance Bank to deal with foreign exchange

AU Small Finance Bank has announced that it has been granted permission by the Reserve Bank of India (RBI) to act as an authorized dealer in foreign exchange. The bank has received a license to operate as an Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999. As a result, the bank will be able to deal in foreign exchange going forward, provided it adheres to all relevant regulations. This announcement was made by the bank in a SEBI filing.

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AU Small Finance Bank: Appointments of Director and CEO:

AU Small Finance Bank has announced that the Reserve Bank of India (RBI) has approved the re-appointment of Sanjay Agarwal as the managing director and CEO of the bank for a three-year period. The re-appointment is effective from April 19, 2021, until April 18, 2026, according to a statement issued by the bank. Furthermore, the RBI has also cleared the re-appointment of Uttam Tibrewal as the whole-time director for a period of three years.

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