AU Small Finance Bank on Wednesday said it has received permission from Reserve Bank of India to deal in foreign exchange. Reserve Bank of India vide its letter dated April 19, 2023 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange, AU Small Finance Bank said in a regulatory filing.
The permission is subject to compliance of applicable regulations, it said.
In a separate filing, Equitas Small Finance Bank said it has also received Authorized Dealer Category-I (AD-I) License from RBI.
Recently, RBI approved re-appointment of Sanjay Agarwal as managing director and CEO of AU Small Finance Bank for a period of three years.
The re-appointment is valid with effect from April 19 till April 18, 2026, AU Small Finance Bank said in a statement.
Besides, it said the regulator has also cleared the re-appointment of Uttam Tibrewal as the whole-time director for a period of three years.
The permission is subject to compliance of applicable regulations, it said.
In a separate filing, Equitas Small Finance Bank said it has also received Authorized Dealer Category-I (AD-I) License from RBI.
Recently, RBI approved re-appointment of Sanjay Agarwal as managing director and CEO of AU Small Finance Bank for a period of three years.
The re-appointment is valid with effect from April 19 till April 18, 2026, AU Small Finance Bank said in a statement.
Besides, it said the regulator has also cleared the re-appointment of Uttam Tibrewal as the whole-time director for a period of three years.
Wednesday, 19 Apr, 2023Experience Your Economic Times Newspaper, The Digital Way!
- Front Page
- Pure Politics
- Companies
- ET Markets
- More
- Foxconn Looks to Expand Chennai iPhone Facility
Apple iPhone-maker Foxconn is likely to expand its manufacturing facility in India by adding two additional buildings at its site near Chennai, according to people aware of the plans.
I-T Investigation Against Insurers Widens to BanksThe income tax (I-T) department last week sent notices to two large private banks in its ongoing probe into alleged malpractices involving commission payments by insurance companies, official sources aware of the matter told ET.
Read More News on
(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
