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AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank [2] and India’s largest [3] tech-led [4] small finance bank, based in Jaipur.It was founded as vehicle finance company and NBFC, AU Financiers (India) Ltd in 1996 and converted into a full-fledged small finance bank on 19 April 2017.
AU Bank was the only non-banking finance company to receive this license. [7] Agarwal was first appointed as managing director of Au Financiers on 14 February 2008. As the company transformed into a Small Finance Bank on 19 April 2017, he became the Managing Director & CEO of AU Small Finance Bank. [5]
AU Small Finance Bank: 2017 Jaipur, Rajasthan: 474 ₹ 90,216.12 crore (US$11 billion) ₹ 9,293 crore (US$1.1 billion) [78] Capital Small Finance Bank: 2016 Jalandhar, Punjab: 47 [79] Equitas Small Finance Bank: 2016 Chennai, Tamil Nadu: 412 ₹ 26,959 crore (US$3.2 billion) ₹ 3,997 crore (US$470 million) [80] ESAF Small Finance Bank: 2017 ...
The small finance bank shall be registered as a public limited company under the Companies Act, 2013. It will be licensed under Section 22 of the Banking Regulation Act, 1949 and governed by the provisions of the Banking Regulation Act, 1949; Reserve Bank of India Act, 1934; Foreign Exchange Management Act, 1999; Payment and Settlement Systems Act, 2007; Credit Information Companies ...
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers ...
Prior to becoming a bank, the company was India's largest microfinance institution, Janalakshmi Financial Services, [4] founded July 24, 2006. [ 5 ] [ 6 ] As a microfinance lender, the company survived large losses following the 2016 Indian banknote demonetisation , reporting total losses of ₹2,504 crore (US$338 million) at the time of its ...
Birth Year. Full Retirement Age (FRA) 1943 to 1954. 66. 1955. 66 and 2 months. 1956. 66 and 4 months. 1957. 66 and 6 months. 1958. 66 and 8 months. 1959. 66 and 10 months
In a first, RBI accepted October 2023 proposal of amalgamation of Fincare Small Finance Bank into AU Small Finance Bank. The combined entity to rename Fincare into AU from April 1, 2024 and the shareholders of Fincare to receive 579 AU shares for every 2000 shares held. This eliminates Fincare's regulatory need to be listed.