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United News of India
21 hours ago
- Business
- United News of India
AU SFB partners with IFC to integrate climate risk management into core banking strategy
Hyderabad, June 4 (UNI) Marking World Environment Day with a commitment to sustainable finance, AU Small Finance Bank (AU SFB), India's largest small finance bank, on Wednesday said it has partnered with the International Finance Corporation (IFC) to undertake a comprehensive climate risk advisory program. Through this initiative, AU SFB will embed climate risk considerations into its governance frameworks, strategic planning, risk management processes, and ESG disclosures – aligning with global best practices and evolving regulatory expectations, the bank said in a release. IFC will serve as AU SFB's lead ESG and climate risk advisor, supporting AU SFB in addressing the growing need for financial institutions to quantify, disclose, and manage climate-related financial risks. The engagement also aligns with the Reserve Bank of India's recent climate disclosure guidelines and global frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD). The collaboration reaffirms AU SFB's commitment to resilient banking systems and sustainable financial inclusion it will include three key components: A detailed evaluation of AU SFB's loan portfolio exposure to physical hazards such as floods, droughts, and extreme weather events. Using Intergovernmental Panel on Climate Change (IPCC) climate scenarios and long-term projections (up to 2100), this study will produce a risk heatmap highlighting vulnerable geographies and sectors. Analysis of potential financial exposure arising from policy shifts, market transitions, and technological disruptions linked to India's low-carbon goals. AU SFB will use Network for Greening the Financial System (NGFS) scenarios to model these risks. Application of the Partnership for Carbon Accounting Financials methodology to measure financed emissions (Scope 3, Category 15) across key asset classes — including corporate loans, SME finance, real estate, and sovereign bonds — for FY 2024–25 and FY 2025–26. To support the technical execution of this advisory program, IFC will work with StepChange, a specialized climate risk solutions provider, for analytical modeling and quantification. Sanjay Agarwal, Founder, MD & CEO, AU Small Finance Bank, said, " This partnership with IFC represents a strategic inflection point in AU SFB's sustainability journey. By systematically integrating climate considerations into our risk architecture and decision-making, we aim to future-proof our portfolio and mobile capital for India's climate transition. This initiative aligns with our dual commitment to responsible banking and creating sustainable value for all stakeholders." AU SFB has already demonstrated strong sustainability leadership by launching a Green Fixed Deposit product that has raised Rs 1,178 crore as of March 31, 2025, with proceeds allocated exclusively to Renewable Energy and Clean Transportation sectors. The bank has achieved a Sustainalytics ESG Risk Rating of 17.1 (Low Risk) and holds an AA rating in the MSCI ESG assessment. UNI KNR BM
Business Recorder
2 days ago
- Business
- Business Recorder
Indian bonds flat ahead of state debt supply, RBI policy decision
MUMBAI: Indian government bonds traded in a tight range in early deals on Tuesday, as investors awaited the state debt supply expected later in the day, and the central bank's monetary policy decision due later this week. The yield on the new benchmark 10-year bond was at 6.2171% as of 10:20 a.m. IST, compared with the previous close of 6.2144%. Bond yields move inversely to prices. 'The higher-than-expected GDP number toned down future rate cuts expectations in the market, and we're now waiting to hear from the horse's mouth (the central bank) for further direction,' said Debendra Kumar Dash, senior vice president of treasury at AU Small Finance Bank. India's gross domestic product (GDP) surged 7.4% in the January-March quarter, much faster than the forecast of 6.7% in a Reuters poll. The Reserve Bank of India is widely expected to cut rates by at least 25 basis points in its monetary policy decision due on June 6, with the focus also on the Governor's commentary to gauge the central bank's rate easing trajectory. India bond yields resume decline as all eyes on RBI decision this week State Bank of India, however, believes there should be a 50-basis-point cut to reinvigorate the credit cycle. India's widening liquidity surplus supported the sentiment, with the daily average surplus at its highest level since July 2022. In May, the daily average surplus stood at nearly 1.71 trillion rupees, more than 20% higher than April. Meanwhile, Indian states are set to sell bonds worth 294 billion rupees ($3.44 billion) later in the day, the highest quantum since the start of the financial year. Rates Volumes in overnight index swaps (OIS) were muted in early trading, and the rates are expected to remain range-bound during the day, traders said. The one-year OIS rate was yet to be traded, while the two-year OIS rate was down 1 basis point at 5.44% The most liquid five-year was slightly lower at 5.65%.
Mint
3 days ago
- Business
- Mint
Is the AU Bank Vetta Credit Card worth it? Features and charges explained
The AU Bank Vetta Credit Card continues to provide a suite of benefits and services designed for credit card users in the country. The aim of the card is to provide users with lifestyle perks and reward programmes. This particular credit card is issued by AU Small Finance Bank and is developed to assist frequent travellers and high spending individuals. Let us hence look at the key features, eligibility criteria, application process and fees and charges associated with this credit instrument. Reward points : You can earn 10 reward points per ₹ 100 on utility bill payments you make. Four points per ₹ 100 on grocery and departmental store purchases and two points per ₹ 100 on other spends. : You can earn 10 reward points per 100 on utility bill payments you make. Four points per 100 on grocery and departmental store purchases and two points per 100 on other spends. Milestone benefits: Vouchers worth ₹ 2000 can be received upon spending ₹ 30,000 within the first 60 days. Furthermore, additional rewards include Zomato Pro membership if you meet the monthly ₹ 50,000 criteria and bonus points on quarterly and annual spend thresholds. Vouchers worth 2000 can be received upon spending 30,000 within the first 60 days. Furthermore, additional rewards include Zomato Pro membership if you meet the monthly 50,000 criteria and bonus points on quarterly and annual spend thresholds. Lounge access : You can also avail one complimentary airport lounge visit per quarter along with two railway lounge accesses per quarter at select stations including stations such as New Delhi and Sealdah in Kolkata. : You can also avail one complimentary airport lounge visit per quarter along with two railway lounge accesses per quarter at select stations including stations such as New Delhi and Sealdah in Kolkata. Insurance coverage: Benefits from air accidents cover up to ₹ 50 lakhs along with credit shields up to ₹ 2 lakh. Not only this, one can avail purchase protection up to ₹ 25,000. Charge type Details Annual fee ₹ 2,999 (waived on spending ₹ 40,000 within 90 days) Finance charges 2.99% per month (35.88% per annum) Foreign currency mark-up 2.99% on international transactions Late payment fee As per bank's policy (check official site) Card replacement fee ₹ 100 (subject to revision) Note: The features and fees discussed above are illustrative in nature. For the updated terms and conditions refer to the official website of AU Small Finance Bank. Age : Primary cardholders should be between 21 and 60 years. : Primary cardholders should be between 21 and 60 years. Add-on cardholders: Must be over 18 years. Must be over 18 years. Residency: Applicants must be Indian residents. Here's a simplified 5-step guide to applying for the AU Bank Vetta Credit Card, based on the official AU Small Finance Bank website: Visit the official website: Reach out to the AU Small Finance Bank's credit card website page: AU Bank Credit Cards. Select the Vetta Credit Card: Opt for the 'Vetta Credit Card' from the list of all the available credit card options. Click on the 'Apply Now' tab: Select the 'Apply Now' tab on the web page to initiate your application submission. Fill in the application form: Submit the requisite personal details such as name, contact, PAN, Aadhaar details etc., along with other financial details as prompted. Upload required documents: Collect and make sure you submit the necessary documents including proof of address, identity, income etc., to complete the process of application submission. For any related doubts and clarifications you can reach out to the respective customer support team of AU Small Finance Bank. This way you can ensure that you are in a position to make a well thought out decision before applying for the AU Bank Vetta credit card. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
Hindustan Times
6 days ago
- Hindustan Times
Trio tries to rob cash collection agent of ₹5 lakh in Chandigarh, held
Prompt action by Chandigarh Police led to the arrest of three men who tried to rob a cash collection agent in broad daylight in Sector 27 on Wednesday morning. The victim, Pardeep, works for AU Small Finance Bank. Probe revealed that the robbery was pre-planned by Shubham Bharti, 29, a former employee of the bank, along with Angrej Singh, 25, of Hammad Lodra, Ferozepur, Punjab; and Amit Kumar, 25, of Baijnath, Kangra, Himachal Pradesh. The trio had conducted a recce of the victim's routine before attacking him around 11.30 am on Wednesday, when he was returning to the bank after collecting ₹5 lakh from Grain Market in Sector 26. As per FIR, two of the accused, riding a Honda Activa scooter, intercepted Pardeep near Sector 27. They attempted to snatch his cash bag and when he resisted, one of the accused attacked him with a knife, injuring his right hand. Pardeep fell from his Activa and raised the alarm. As a crowd began to gather, one attacker fled on the scooter while the other escaped on foot. A quick response from a nearby PCR personnel, constable Piyush, led to the arrest of Angrej, who was hiding inside a public toilet in Sector 27. Subsequently, Shubham and Amit were also arrested, and the Activa used in the robbery was recovered. The trio was produced before a local court and remanded to judicial custody.
Time of India
28-05-2025
- Business
- Time of India
AU Small Finance Bank buys commercial tower in Mumbai's Bandra for ₹371 crore
AU Small Finance Bank has acquired an entire commercial tower on western express highway in Mumbai 's Bandra locality for more than Rs 371 crore from realty developer Earth Worth Constructions making it the largest outright office deal by any financial institution this year. The Jaipur-headquartered bank has purchased the 11-storey property with two basements spread over 74,577 sq ft to set up its corporate office in Mumbai. The emerging private lender has paid stamp duty worth Rs 22.26 crore for the deal at the time of registration on Tuesday, showed the documents accessed by ET. The property was previously occupied by agriculture products and solutions provider UPL Ltd-- formerly known as United Prosperous--through a long-term lease spanning over 10 years. The company vacated the property last year after the lease term ended. The standalone commercial tower has a total of 98 car parking slots across its two basements. The outright deal assumes significance in the backdrop of most financial institutions picking up office spaces through long-term leases. ET's separate email queries to AU Small Finance Bank and Earth Worth Constructions remained unanswered until the time of going to press. For the year ended March, the listed bank has reported 32% on-year growth in net profit at Rs 2,106 crore. The bank has a network of over 2,456 banking touch points across 21 states and four union territories and has a workforce of over 50,900 employees. The Indian office property market has experienced remarkable growth in recent years, fuelled by a robust economy and increasing demand from both domestic and international companies. This growth can be attributed to several factors, including a steady rise in economic activity, the expansion of multinational corporations into India, and the thriving startup ecosystem. Additionally, the country's growing prominence as a global outsourcing hub and its large talent pool have further boosted the need for high-quality office spaces in key metropolitan cities and emerging business hubs.
