AU Small Finance Bank (AU SFB) Limited has appointed the former Deputy Governor of the Reserve Bank of India (RBI) & its Non-Executive Independent Director, Harun Rashid Khan (HR Khan) as its Part-Time Chairman with effect from 30th January 2024.
- He has succeeded Raj Vikash Verma whose tenure as Part Time Chairman & Independent Director of the Bank cessed on 29th January 2024.
About the appointment:
i.HR Khan will serve the post until 27th December 2024 (completion of his first tenure as Independent Director).
ii.The appointment was recommended by the Nomination & Remuneration Committee of AU SFB as per the provisions of the Companies Act, 2013.
iii.The appointment also received approval from RBI, Board of Directors & Shareholders of AU SFB.
iv.Currently, he is a member of the Standing Committee on Foreign Portfolio Investment (FPI) of the Securities and Exchange Board of India (SEBI).
About HR Khan:
i.HR Khan was associated with AU SFB as an independent director from 2021.
ii.He served as the Deputy Governor of RBI for five years (2011-16).
iii.Prior to that, he was acting as Executive Director(ED) of RBI since October 2007.
iv.He also been a Nominee Director of RBI on the boards of Bandhan Bank Limited, Dena Bank, Bank of Maharashtra(BoM), Punjab and Sind Bank, Bank of Rajasthan and the Orissa State Finance Corporation (OSFC).
ACC Approved DFS’s Proposal to Transfer EDs of BoB & IOB
The Appointments Committee of the Cabinet (ACC) has approved two proposals made by the Department of Financial Services (DFS) under the Ministry of Finance (MoF) concerning the transfer of the executive directors (EDs) of Bank of Baroda (BoB) and Indian Overseas Bank (IOB).
- Sanjay Vinayak Mudaliar, ED of IOB, was transferred to BoB for the remainder of his term, which lasts until December 31, 2025 or until further orders, whichever is earlier.
- Joydeep Dutta Roy, the incumbent ED of BoB, was shifted to IOB for the remainder of his term, which ends on October 20, 2024 or until further orders, whichever is earlier.
About AU Small Finance Bank Limited:
Managing Director & Chief Executive Officer (CEO) – Sanjay Agarwal
Headquarters – Jaipur, Rajasthan
Established in – 1996
Tagline – Badlaav Humse Hai!
