AU Small Finance Bank submits application to RBI for voluntary transition to universal bank
Ringing
AU Small Finance Bank has formally applied to the Reserve Bank of India for voluntary transition to universal bank.
“We wish to inform that the bank has submitted an application to the RBI to seek approval for voluntary transition from a Small Finance Bank to Universal Bank today i.e, September 3, 2024,” the bank said in a stock exchange filing.
The bank had earlier informed the bourses in July that it has formed a four-member committee headed by former RBI deputy-governor H.R. Khan, who is the chairman and independent director of the bank, to vet the application for submission to the RBI.
Source: The Telegraph
