Mumbai/Delhi, October 21, 2020 (GPN): AU Small Finance Bank (AU Bank), a Scheduled Commercial Bank and one of the largest small finance banks in the country, started disbursing loans under the PM SVANidhi Yojana from this month.

Mr. Sanjay Agarwal, MD & CEO, AU Small Finance Bank and senior leaders of the Bank handed over the loan cheques to the first three customers at the Head Office of the Bank located at Jaipur. Speaking on the occasion Mr. Sanjay Agarwal, MD & CEO, AU Small Finance Bank, said, “This is a small step to support the efforts of these budding entrepreneurs as they gear up again to contribute to the journey of atmnirbhar bharat. We strongly stand with the Government of India in all the initiatives taken for reigniting the local businesses. As we empower these small business owners, we truly fulfil the purpose of being a small finance bank. Even after they have repaid these loans, we could continue this relationship further to help them take their businesses to the next level.” 

For over two decades AU provided funding for income generating assets to those who would otherwise find it difficult to get it and always partnered in their journey of sustainable growth. Now as a bank focussed on simplifying banking and enabling financial inclusion, AU continues to fund smaller businesses to enable them to thrive. Under PM SVANidhi Yojana, the Bank has gone a step ahead by offering unsecured loans of up to Rs. 10,000 loans to give street vendors access to affordable working capital in these difficult times. In the true spirit of inclusive banking, these loans will give vendors a fighting chance to emerge stronger from the pandemic.

About AU Small Finance Bank

AU Small Finance Bank Limited (AU Bank) is a scheduled commercial bank and a Fortune India 500 Company. With 25 years legacy of being a retail focused and customer centric institution, the company started its banking operation in April 2017. As on June 30, 2020, the Bank has established operations across 650+ Banking Touchpoints serving about 18 Lakh+ customers in 12 states & 1 UT of North, West and Central India with a talent base of 16,000+ employees. In 3 years as a bank, it has built a solid net worth of about Rs. 4600 Cr.+, robust deposit base of over Rs. 26,000 Cr.+ and a strong lending base of about Rs. 30,000 Cr.+

AU Bank enjoys the trust of marquee investors and is listed at both the leading exchanges viz. NSE and BSE. It has consistently maintained a high external credit rating from all major rating agencies like CRISIL, ICRA and India Ratings.