RBI approves appointment of Mr. Harun Rasid Khan as Part Time Chairman of AU Small Finance Bank Ltd

Reserve Bank of India ("RBI") vide its letter dated November 24,2023 has approved the appointment of Mr. Harun Rasid Khan ("Mr. H. R. Khan") (DIN: 07456806) as Part Time Chairman of AU Small Finance Bank Ltd in terms of Section 10B (1A)(i) of the Banking Regulation Act, 1949 w.e.f. January 30, 2024 till completion of his 1st tenure as Independent Director of the Bank i.e. December 27, 2024.

Mr. H. R. Khan is associated with the Bank as an Independent Director since December 28, 2021 and he will assume the position of Part Time Chairman upon completion of tenure of current Part Time Chairman viz. Mr. Raj Vikash Verma on January 29, 2024.

Mr. H. R. Khan, a career central banker, has a vast experience of over four decades in the areas of Banking & Finance, Information Technology, Payment and Settlement systems, Economics, Financial Markets, Human Resources, Risk Management and Financial Inclusion and has handled leadership positions as the Deputy Governor and the Executive Director at the Reserve Bank of India.

He has expertise in the field of the finance of over 38 years of experience with the RBI and had handled diversified areas and spearheaded major projects relating to financial markets, foreign exchange management, external investments, banking regulation and supervision, IT transformation, payment and settlement systems, training and HR initiatives, and financial inclusion.

Mr. H. R. Khan holds the Master of Arts from Utkal University, Bhubaneswar, Master of Philosophy from Jawaharlal Nehru University, New Delhi, Diploma in Business Management from Narsee Monjee Institute of Management Studies, Mumbai and he is a Certified Associate of the Indian Institute of Banking and Finance.

He had chaired the Committee on the Rural Credit and Micro finance which focused on expansion of banking network through the Information and Communications Technology enabled business correspondents, the Inter-Regulatory Corporate Debt Working Group which made several important recommendations for development of the Corporate Debt Market in India and the Working Group on the Regulations for the Foreign Portfolio Investors (FPIs) set up for simplification, liberalisation and rationalisation of the portfolio flow regulations set up by the SEBI. He was also the member of the Committees on Digital Payments set up by the Government of India and the RBI He had also chaired the Corporate Bond and Securitisation Committee (CoBoSAC) of the SEBI. Currently, he is a member of the Standing Committee on FPIs of the SEBI.

He was also the director on the Board of Bandhan Bank Limited, Dena Bank, Bank of Maharashtra, Punjab & Sind Bank, Bank of Rajasthan, NABARD, National Housing Board, PTC India Financial Services Limited, Reserve Bank Information Technology Private Limited and the Orissa State Finance Corporation.

Shares of AU Small Finance Bank Limited was last trading in BSE at Rs. 722.10 as compared to the previous close of Rs. 719.65. The total number of shares traded during the day was 149737 in over 2778 trades.

The stock hit an intraday high of Rs. 723.50 and intraday low of 711.55. The net turnover during the day was Rs. 107137272.00.

Source : Equity Bulls

Keywords

AUSmallFinanceBank INE949L01017 RBIApproval Appointment PartTimeChairman