RBI grants 'In-principle' Approval to AU Small Finance Bank Limited for transition into a Universal Bank

The Reserve Bank on Thursday said it has decided to grant 'in-principle' approval to AU Small Finance Bank for transition into a universal bank. After getting the SFB licence in 2015, AU Financiers commenced its journey as a small finance bank in April 2017. With the RBI notification, AU becomes the first Small Finance Bank in India to receive this in-principle approval to become a universal bank.

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