RBI clears AU Small Finance Bank CEO Sanjay Agarwal for a third term as universal bank push nears
AU Small Finance Bank founder Sanjay Agarwal will stay on as managing director and chief executive for another three years starting April 19, after the Reserve Bank of India signed off on his reappointment, the lender said late Thursday in an exchange filing. The RBI’s approval letter, dated Feb. 12, followed earlier clearances from the board and shareholders back in October and December. This decision is a big deal for AU, which is pushing to become a universal bank — a step up from its current small finance bank status. AU got in-principle approval on Aug. 7, 2025, to make the switch, after filing its application in September 2024, Reuters reported.