AU Small Finance Bank on Wednesday said it has received permission from the Reserve Bank of India to deal in foreign exchange.

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Reserve Bank of India vide its letter dated April 19, 2023 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange, AU Small Finance Bank said in a regulatory filing.

The permission is subject to compliance of applicable regulations, it said.

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Recently, RBI approved re-appointment of Sanjay Agarwal as managing director and CEO of AU Small Finance Bank for a period of three years.

The re-appointment is valid with effect from April 19 till April 18, 2026, AU Small Finance Bank said in a statement.

Besides, it said the regulator has also cleared the re-appointment of Uttam Tibrewal as the whole-time director for a period of three years.

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