AU Small Finance Bank share price jumps over 7% on receipt of RBI approval for Universal Bank license
In a regulatory filing on August 7, AU Small Finance Bank said that it received in-principle approval from the Reserve Bank of India (RBI) for transition from a Small Finance Bank (SFB) to a universal bank.
The RBI nod comes after the bank's letter dated 3 September 2024, requesting a universal bank license from the Indian Central Bank. With this approval received on August 7, AU Small Finance Bank becomes the first SFB to receive an in-principle approval to become a Universal Bank.
At 9:20 AM, AU Small Finance Bank share price was trading 2.96% higher at ₹ 766.05 apiece on the BSE.
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