Skip to content
Breaking News

Breaking News

  • Home
  • World
  • Business
  • Health
  • Entertainment
  • Life Style
  • Sports
  • Toggle search form

AU Small Finance Bank Submits Application To RBI For Universal Bank Licence

Posted on September 3, 2024 By Admin No Comments on AU Small Finance Bank Submits Application To RBI For Universal Bank Licence


New Delhi: AU Small Finance Bank (AUSFB) on Tuesday submitted an application to the RBI seeking approval for a universal bank licence. The RBI in April invited applications from small finance banks meeting specified criteria, including a minimum net worth of Rs 1,000 crore, for becoming regular or universal banks.

AUSFB submitted an application to the central bank seeking approval for the voluntary transition from a small finance bank to a universal bank on September 3, 2024, the lender said in a BSE filing.

 

In November 2014, the RBI issued guidelines for the licensing of small finance banks (SFBs) in the private sector. As per the April guidelines of RBI, an SFB aiming to become a universal bank should have a minimum net worth of Rs 1,000 crore at the end of the previous quarter and shares of the bank should have been listed on a recognised stock exchange.

It should also have a net profit in the last two financial years and gross NPA and net NPA of less than or equal to 3 per cent and 1 per cent, respectively, in the last two financial years.

Jaipur-based AUSFB acquired Fincare Small Finance Bank, and the merger became effective on April 1 this year. With the merger, the total business mix of the merged entity crossed Rs 1.8 lakh crore.  



Source link

Business Tags:AU Small Finance Bank, RBI, RBI Guidelines, Small Finance Banks

Post navigation

Previous Post: Donation of One Eye Restores Vision for Six: All You Need to Know About This Breakthrough at AIIMS RP Centre – News18
Next Post: Judge set to hear NCAA settlement objections

More Related Articles

Georgia’s richest man said to be moving funds to avoid sanctions Business
Wall Street investors seek shelter | The Express Tribune Business
Beyond Fame, Meet Mukesh and Anil Ambanis Lesser Known Sisters Who Have Achieved Success In Their Own Ways Business
Could South America benefit from Trump’s trade tariffs? Business
8th Pay Commission: Will Pay Panel Be Set Up This Month? Can Discussions On Terms of Reference Be Materialised In April? Business
Ukraine receives $1.15 billion grant from US under World Bank program – Times of India Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • PHF seeks govt funds for hotel accommodation in Kuala Lumpur: sources
  • Abortion guidelines branded horrifying by grieving mum
  • Woman declared dead by coroner, moved to coffin, turns out to be alive
  • Shohei Ohtani reacts to death of Japanese baseball legend Shigeo Nagashima: ‘May your soul rest in peace’
  • Thames Water nationalisation ‘not the answer’ says minister after rescue bid fails

Categories

  • Business
  • Entertainment
  • Health
  • Life Style
  • Sports
  • World

Copyright © 2025 Breaking News.

Powered by PressBook Blog WordPress theme