AU Small FInance Financial institution Restricted (SFB) Wednesday stated it has acquired permission from the Reserve Financial institution of India (RBI) to behave as an authorised seller to deal in overseas trade.
AU Small Finance Financial institution in a regulatory submitting stated the Reserve Financial institution vide its letter dated April 19, 2023 has granted Licence to behave as Licensed Vendor Class-I (AD-I) underneath part 10 of FEMA, 1999 to deal in overseas trade.
The corporate will be capable to deal in overseas trade topic to compliance with relevant rules.
Individually, Equitas Small Finance Financial institution additionally acquired Licensed Vendor Class-I (AD-I) License from the central financial institution.
Final week, the central financial institution had accredited the reappointment of Sanjay Agarwal as Managing Director & CEO and Uttam Tibrewal as Entire Time Director of AU Small Finance Financial institution (SFB).
“We want to inform you that the Reserve Financial institution of India vide its letter dated twelfth April, 2023, has accredited the next: a. Re-appointment of Mr. Sanjay Agarwal as Managing Director & CEO for a interval of three (three) years w.e.f. nineteenth April, 2023 until 18th April, 2026; and b. Re-appointment of Mr. Uttam Tibrewal (DIN: 01024940) as Entire Time Director for a interval of three (three) years w.e.f. nineteenth April, 2023 until 18th April, 2026,” the corporate stated in a inventory trade submitting.
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Up to date: 20 Apr 2023, 03:53 AM IST
Supply: Live Mint