AU Small Finance Bank applies for a universal bank license from the Reserve Bank of India.

AU Small Finance Bank has applied to the Reserve Bank of India for a universal bank license, aiming to enhance its operations and services. To qualify, it must meet criteria including a minimum net worth of ₹1,000 crore. Following a merger with Fincare Small Finance Bank, AU's total business mix exceeds ₹1.8 lakh crore. The transition to a universal bank would ease regulatory requirements and is expected to strengthen the bank's brand.

September 03, 2024
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