AU Small Finance Bank appoints R V Verma as chairman

AU Small Finance Bank on Thursday said the Reserve Bank of India has approved the appointment of Raj Vikash Verma as Part-time Chairman of the bank for a period of one year.

Verma was inducted as an Independent Director with the AU Bank in January 2018, the bank said in a statement.

The RBI has also approved reappointment of Sanjay Agarwal as managing director and CEO of the bank. Agarwal, who has been associated with this institution since its inception in 1996 (erstwhile AU Financiers (India) Limited, is also its promoter.

Verma, former chairman and managing director of National Housing Bank, possesses over 37 years of strong experience in the financial service sector, particularly in the field of development finance, regulatory supervision, housing finance, mortgage finance and real estate sector.

He completed his graduation and post-graduation in Economics from Delhi School of Economics and has a master's degree in Business Administration from FMS - Delhi University. He is also a Certified Associate of the Indian Institute of Bankers (CAIIB).