Mumbai, Aug. 8 -- 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.

Published by HT Digital Content Services with permission from Capital Market....