AU Small Finance Bank to shift HQ to Mumbai

MUMBAI: AU Small Finance Bank’s promoters will switch their shares to a non-operative holding firm (NOHC) as a part of RBI’s situations for the lender’s transition right into a full-fledged or common financial institution. The lender has additionally determined to shift its company headquarters from Jaipur to Mumbai, after receiving in-principle approval from RBI for the improve.AU Small Finance Bank’s founder, MD & CEO Sanjay Agarwal stated the non-operative holding firm construction would work in his favour, as it might permit him to develop into different areas of monetary providers. “That structure is far better for me because it allows me to experiment on the other financial services too”. He added that even when there have been tax points in transferring the holding they need to be manageable.