The AU Small Finance Bank is secure and also offers the best-in-class banking solutions while also ensures the safety of its customers and stakeholders. AU Small Finance Bank is one good financial institution in the country that offers different services and various products. These include Savings Accounts, Current Accounts, Fixed Deposits, Recurring deposits, ATMs, Vehicle Finance, SME and MSME loans. Although the institution still has much more to offer, other products and services are related to them such as Credit Cards.
To extend banking solutions to the unserved sections of society, the SFBs segments were introduced by RBI in India. This happened to address the credit needs of the small business units, micro and small industries, marginal farmers, and other unorganized sectors by using the high technology-low-cost operation approach. There are several SFBs (Small Finance Banks) in the country and you can say that AU Small Finance Bank is one of the largest and most recognized banks as it offers all banking services and products.
Earlier, the AU Bank was set up as an NBFC registered with the name AU Financiers in the year 1996 whereas, after nearly two decades of operation, AU started as SFB on 19th April 2017 after acquiring the license from the RBI. After that just like any other financial institution, the AU Smal Finance Bank is also an RBI-approved bank and was issued a license to the bank under Section 22 (1) of the Banking Regulation Act, of 1949. This financial institution also respects and follows RBI’s guidelines.
AU Small Finance Bank is a part of the SFBs segment launched by the RBI to reach and fulfill the credit needs of unrecognized sectors. The AU bank is one of the largest SFBs as it has all the banking services and products of its own. The Bank is approved by the RBU and follows Rbi guidelines to operate