Cautious approach: Small finance bank model in the slow lane, say experts
Unity Small Finance Bank was the last one to get a licence in the category in November 2021. As of December 2023, there were 12 small finance banks in the country. However, last month, the Reserve Bank of India approved the amalgamation of Fincare Small Finance Bank and AU Small Finance Bank (AU SFB).
Extreme weather, prolonged geopolitical tensions pose risks to inflation in near-term: RBI article
Adverse weather conditions and extended geopolitical conflicts that can result in volatility in crude oil prices may pose a threat to inflation in the near term, an article published in the Reserve Bank of India’s (RBI) monthly bulletin said. Consumer price index (CPI) inflation has gravitated to 4.9 per cent in March after averaging 5.1 per cent in the preceding two months following the recent peak at 5.7 per cent in December 2023.
AU SFB launches multiple products like credit cards with exclusive features
The NOMO Credit Card marks AU SFB's debut into the realm of secured credit cards, backed by a fixed deposit, the bank's managing director Sanjay Agarwal said here. Additionally, he said, AU SFB has unveiled the AU 0101 Business App, designed to offer customized solutions for proprietorships and MSMEs, alongside AU0101 Version 2.0, engineered to provide customers with an enhanced mobile banking experience, complete with exciting new features. First time in Indian banking industry, he said, AU SFB has launched ATM Insurance, for the convenience of customers to buy insurance through AU SFB's ATMs with their debit card.
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