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AU SFB Wins First Universal Banking Licence in a Decade
Mint Kolkata
|August 08, 2025
AU Small Finance Bank on Thursday got the Reserve Bank of India's "in-principle" approval to transition into a universal bank, making it the first full-fledged banking licence issued in nearly a decade.
AU Small Finance Bank applied for the licence in September 2024, which would allow it to expand its operations, in terms of issuing bigger loans, taking on more customers and making subsidiaries, all of which are limited for small finance banks.
The banking regulator first issued guidelines for small finance banks to transition into full-fledged banks in 2014 and then updated those guidelines with more detailed criteria in April last year.
Denne historien er fra August 08, 2025-utgaven av Mint Kolkata.
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