AU Small Finance Bank has received approval to raise capital by issuance of Basel II compliant, Rated, Unlisted, Tier II, Unsecured Non-Convertible Redeemable Debentures, being classified as subordinated debt in one or more tranches upto Rs 500 crore. The Board of Directors of the Bank at its meeting held on June 20, 2019 has approved the same.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused non-banking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.
