RBI permits AU Small Finance Financial institution to take care of international alternate

AU Small FInance Financial institution Restricted (SFB) Wednesday stated it has obtained permission from the Reserve Financial institution of India (RBI) to behave as an authorised vendor to deal in international alternate.

AU Small Finance Financial institution in a regulatory submitting stated the Reserve Financial institution vide its letter dated April 19, 2023 has granted Licence to behave as Licensed Seller Class-I (AD-I) beneath part 10 of FEMA, 1999 to deal in international alternate.

The corporate will be capable of deal in international alternate topic to compliance with relevant laws.

Individually, Equitas Small Finance Financial institution additionally obtained Licensed Seller Class-I (AD-I) License from the central financial institution.

Final week, the central financial institution had authorised the reappointment of Sanjay Agarwal as Managing Director & CEO and Uttam Tibrewal as Complete Time Director of AU Small Finance Financial institution (SFB).  

“We want to inform you that the Reserve Financial institution of India vide its letter dated twelfth April, 2023, has authorised the next: a. Re-appointment of Mr. Sanjay Agarwal as Managing Director & CEO for a interval of three (three) years w.e.f. nineteenth April, 2023 until 18th April, 2026; and b. Re-appointment of Mr. Uttam Tibrewal (DIN: 01024940) as Complete Time Director for a interval of three (three) years w.e.f. nineteenth April, 2023 until 18th April, 2026,” the corporate stated in a inventory alternate submitting.

Catch all of the Trade Information, Banking Information and Updates on Stay Mint. Obtain The Mint Information App to get Day by day Market Updates.
Extra Much less

Up to date: 20 Apr 2023, 03:53 AM IST


Posted

in

by