India's AU Small Finance Bank up on seeking universal bank licence

AU Small Finance Bank

04/09/2024 08:09

** Shares of AU Small Finance Bank  AUFI.NS  rise 2% to 688
rupees
    ** The lender seeks approval for universal bank license from
the Reserve Bank of India; license helps small lenders expand
operations
    ** In April, RBI had released a set of criteria for small
lenders to become universal banks
    ** AUFI among top gainers in mid-cap index  .NIFMDCP100 ,
which is down 0.4% on the day
    ** Stock down 13% in 2024 so far vs a 28% rise in
 .NIFMDCP100  28% and the Nifty Bank index  .NSE  gaining 6.5%

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))