Au FINANCIERS received the in-principle approval from RBI for Small Finance Bank
The Reserve Bank of India (RBI) on 16th September, 2015 granted ‘in principle’ approval to 10 companies (out of 72 applications submitted ) to set up as a Small Finance Bank aimed at overall Financial inclusion in the country by channeling credit to unreached, small marginal farmers and small business units in Rural India.
Au FINANCIERS (INDIA) LIMITED is the only NBFC in its category in India to receive the in-principle approval , sharing the platform with other 9 applicants mainly consisting of MFI’s.
Au FINANCIERS has a close to 20 years of experience in serving the customer segment belonging to rural and semi-urban area majorly to under-banked geographies. In order to take forward the company’s objective, the company shall render continuing support to the un-reached geographies through a low-cost, technology-driven operating model with a strong risk architecture by supplying credit to small business units; small and marginal farmers; micro and small industries; and other unorganized sector entities.
The company sets its vision to drive its resources in the months to come and set its operations in a manner envisaged by RBI as stated in its guidelines on Small Finance Bank .
For more details visit RBI press release .