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RBI Allows Au Financiers to Operate as a Small Finance Bank
January 13, 2017
RBI has given the final license to Au Financiers, a Non-Banking Finance Company to create and operate a small finance bank in India. Au Financiers is headquartered in Jaipur and has 300 branches in 10 states of the country offering commercial loans to micro, medium and small enterprises as well as personal and vehicle loans to individuals. Of 10 applicants, which had received the in-principle license to start small finance banks in September 2015, Au Financiers was the only Non-Banking Finance Company.
Gearing up to start operating as a small finance bank in first quarter of 2017, Au Financiers aims to focus on financial inclusion by serving the under-served, using world-class technology and offer and their customers a digitally differentiated experience.
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