What is the old name of AU Small Finance Bank?
AU Small Finance Bank originally commenced its corporate journey under the name L.N. Finco Gems Private Limited when it was first incorporated in the late 1990s. As the enterprise expanded its operations to cater to unserved and underserved low and middle-income demographics with asset financing and vehicle loans, it changed its corporate designation to Au Financiers (India) Limited. Operating successfully for years as a prominent non-banking financial company, the organization received a specialized banking license from the Reserve Bank of India to transition its operational framework into a dedicated financial institution. Following this major milestone, the company officially updated its name to AU Small Finance Bank Limited, successfully cementing its modern footprint across the national retail banking landscape.
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Sanjay Agarwal traces his prominent banking history back to 1996 when he established a modest vehicle financing enterprise named Au Financiers in Jaipur, India, designed to serve unbanked and underserved rural and semi-urban populations.
AU Small Finance Bank ranks as the largest and most prominent small finance bank in India, having successfully transitioned from a leading vehicle finance and retail-focused non-banking financial company into a scheduled commercial bank.
AU Small Finance Bank maintains its classification and operational license as a specialized small finance bank while consistently pursuing strategic milestones that align with potential evolution toward a universal banking structure.
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Sanjay Agarwal, serving as the Founder, Managing Director, and Chief Executive Officer of AU Small Finance Bank, commands a substantial annual compensation package that reflects his leadership in scaling the financial institution.
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Depositing and maintaining funds in AU Small Finance Bank is safe, as it is a fully licensed scheduled commercial bank regulated by the Reserve Bank of India, operating under strict banking norms and statutory liquidity requirements.
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