All You Need to Know About AU Small Finance Bank

In India, the Small Finance Banks (SFBs) segment was introduced by the Reserve Bank of India (RBI) to extend banking solutions to unserved sections of the society. In addition, they were also set up to address the credit needs of marginal farmers, small business units, micro and small industries & other unorganized sectors using high technology-low cost operation approach.

Currently, AU Small Finance Bank is one of the largest Small Finance Banks operating in India. Earlier functioning as Non-Banking Finance Company, the bank got the coveted licence on 19th April 2017 to begin journey as an SFB. Let’s get to know more about AU Small Finance Bank.

AU Small Finance Bank is an RBI-approved Small Finance Bank. The RBI issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949, to operate the business as a Small Finance Bank in India.

AU Small Finance Bank is a secured bank. The bank offers best-in-class banking solutions while ensuring the safety of all its customers and stakeholders.

There are several Small Finance Banks operating in India. AU Small Finance Bank is recognised as one of the best Small Finance Banks in India as it offers almost all banking products & services, including High-Interest Rate Savings Account, Fixed Deposits, Debit Cards, Credit Cards, Retail Loans, Insurance, Investments, among others.

AU Small Finance Bank was earlier set up as an NBFC registered under the name ‘AU Financiers’ in the year 1996. After nearly two decades of its operation as an NBFC, AU started its journey as an SFB on 19^th April 2017, after acquiring the licence from the RBI.

As per the AU Small Finance Bank’s Annual Report 2022, the bank has a total of 27,817 employees.

AU Small Finance Bank was founded by Mr. Sanjay Agarwal, a merit-holder Chartered Accountant and a first-generation entrepreneur, to extend financing options to unbanked masses of the country.

The "AU" word in "AU Small Finance Bank" has no full form as such. However, AU gets its name from Aurum, which means gold in Latin. Also, the chemical symbol "AU" is considered auspicious in many parts of the country.

Read More: About AU Small Finance Bank Full Form, Brand Ethos & Tagline

AU Small Finance Bank is a public limited company listed under the Companies Act, 2013.

AU Small Finance Bank has 1015 Touchpoints in 21 States and 3 Union Territories as on 31^st December 2022.

AU Small Finance Bank offers various products, including Savings Accounts, Current Accounts, Fixed Deposit, Recurring Deposit, ATM, Vehicle Finance, SME and MSME loans. 

AU Small Finance Bank headquarters is in Jaipur and the corporate office is based out at BKC, Mumbai. We have our Bank Branch/ATMs present across all over in Mumbai in different cities. In the Mumbai office the important operational teams are of Retail Banking, Digital Marketing and Product. 

https://www.rbi.org.in/commonman/English/Scripts/PressReleases.aspx?Id=2231

https://www.rbi.org.in/scripts/bs_viewcontent.aspx?Id=3764

https://assets.au.bank.in/AU_BANK_AR_21_22_single_02082022.pdf