We have to play it right and convince people they can trust us: AU chief

I think the momentum will be huge in our favour be it in terms of deposits or loans. We just got the license last night and the kind of curiosity I am seeing around this is huge, said Agarwal

The Reserve Bank of India (RBI) has approved AU Small Finance Bank to convert into a universal bank, and has asked the lender to transfer promoter stake into a non-operative financial holding company (NOFHC) before commencing operations, which is to be done within 18 months. The Jaipur-based lender’s managing director and chief executive officer (MD & CEO), Sanjay Agarwal, and his family hold a 23 per cent stake in the bank. In an interaction with Subrata Panda and Manojit Saha in Mumbai, Agarwal said he did not intend to increase his promoter shareholding to 26 per cent from 23 per