NEW DELHI, April 19 – AU Small Finance Bank said on Wednesday that it has received permission from the Reserve Bank of India to deal in foreign exchange.
Reserve Bank of India vide its letter dated April 19, 2023 has granted the license to act as an Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange, AU Small Finance Bank said in a regulatory filing.
The permit is subject to compliance with applicable regulations, he said.
RBI recently approved the reappointment of Sanjay Agarwal as Managing Director and CEO of AU Small Finance Bank for a three-year term.
The re-election is valid from April 19 to April 18, 2026, AU Small Finance Bank said in a statement.
In addition, he said the regulator has also cleared the reappointment of Uttam Tibrewal as a full-time director for a term of three years. (ITP)