AU Small Finance Bank has received the RBI’s in-principle approval to convert into a Universal Bank, a landmark move in its strategic growth trajectory.
AU Financiers started its small finance bank operations in April 2017 after receiving the licence in 2015. By June 2025, the bank had built a network of over 2,500 branches and service points across 21 states and 4 Union Territories, serving more than 1.15 crore customers with a team of over 53,000 employees.
On September 3, 2024, AU Small Finance Bank filed a request to transition, following the RBI’s August 2016 ‘on-tap’ regulatory framework and the revised April 2024 guidelines for voluntary conversion to a universal bank.
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Commenting on the announcement, MD & CEO Sanjay Agarwal said, “Receiving the Reserve Bank of India’s in-principle approval to become a universal bank is a landmark moment that highlights our dedication, perseverance, and determination.”
