RBI Waives Key Condition for AU Small Finance Bank's Universal Bank Transition
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CNBC TV18•07-03-2026, 19:53
RBI Waives Key Condition for AU Small Finance Bank's Universal Bank Transition
•RBI updated its in-principle approval for AU Small Finance Bank's transition from a Small Finance Bank to a Universal Bank.
•The Non-Operative Financial Holding Company (NOFHC) requirement for promoter shareholding is now waived, unless the bank or promoter group establishes new group entities in the future.
•AU Small Finance Bank will submit its application for the final Universal Banking license under the guidance of its board and within RBI-specified timelines.
•Q3 net profit surged 26.3% year-on-year to ₹667.6 crore, with Net Interest Income (NII) also rising 26.3% to ₹2,341.3 crore.
•Asset quality improved as Gross NPAs eased to 2.30%, and the bank's results surpassed CNBC-TV18 estimates.
