AU Small Finance Bank shines on introducing `Swadesh Banking`
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AU Small Finance Bank is currently trading at Rs. 756.80, up by 28.00 points or 3.84% from its previous closing of Rs. 728.80 on the BSE.
The scrip opened at Rs. 736.20 and has touched a high and low of Rs. 759.00 and Rs. 726.00 respectively. So far 78337 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 794.95 on 29-May-2023 and a 52 week low of Rs. 548.15 on 24-Mar-2023.
Last one week high and low of the scrip stood at Rs. 759.00 and Rs. 709.55 respectively. The current market cap of the company is Rs. 50323.78 crore.
The promoters holding in the company stood at 25.53%, while Institutions and Non-Institutions held 60.87% and 13.61% respectively.
AU Small Finance Bank (AU SFB) has introduced ‘Swadesh Banking,’ a pioneering initiative poised to transform banking in rural India. Swadesh Banking vertical has been strategically designed to leverage AU Small Finance Bank (AU SFB) legacy of financial inclusion, deep understanding of the rural and semi-urban markets combined with its 360-degree comprehensive solutions for the farmers, self-employed personnel and micro enterprises in India’s Bharat.
With an unwavering commitment to promoting financial and digital inclusion, AU SFB is dedicated to empowering underserved communities and fostering economic growth in rural and unserved areas. Hence, with the introduction of 'Swadesh Banking,' AU SFB will streamline its rural branches, banking outlets, banking correspondents, Financial & Digital Inclusion unit, and Small & Marginal Farmer (SMF) lending units under one umbrella and leadership for the benefit of the Bank’s customers.
Swadesh Banking will bring enhanced focus and will lead to customized banking products, services and operations to meet the distinctive needs and challenges of rural communities and businesses. This will encompass extending digital solutions to local merchants and shop-owners commonly referred to as micro enterprises, advancing financial literacy and digital inclusion, specialized products for local industries, and nurturing local economic growth.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.
