AU Small Finance Bank is experiencing an increase of 23 percent in per day debit card spends. Overall, point-of-sale (PoS) and e-commerce transactions witnessed a surge of 16 percent since the launch of the festive offers. The ‘AU Shopping Dhamaka’ was launched on September 21, 2020 and will go on till November 22, 2020.
The bank is already witnessing a bounce back in spending to pre-COVID levels. The festive offer also includes credit offerings such as 100 percent waiver on valuation charges for gold loan and attractive interest rates on car and home loan.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking 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.
