As per an official notification on Monday, AU Small Finance Bank (SFB) has announced the appointment of Reserve Bank of India’s former Deputy Governor HR Khan as part-time chairman.
It added that Raj Vikash Verma has completed his tenure on 29 January, 2024 and will cease to be a part time chairman and independent director of the bank with immediate effect.
“The Board of Directors and the entire AU Bank family places on record their sincere appreciation for remarkable leadership and unwavering commitment to governance and valuable contributions made by Mr. Raj Vikash Verma. The imprints of his work, values and vision will be the resolute compass guiding in Bank’s journey ahead and the Bank wishes him the best for his future endeavours,” the small finance bank said.
It added that pursuant to recommendation made by the Nomination & Remuneration Committee, approval of Board of Directors and subsequent approvals received from Reserve Bank of India and Shareholders of the Bank, Harun Rasid Khan, Independent Director (Non-Executive) shall assume the position of Part Time Chairman of the Bank w.e.f. January 30, 2024 till completion of his 1st tenure as Independent Director of the Bank i.e. December 27, 2024.
The former Deputy Governor of RBI has over four decades experience in Banking & Finance, Payment and Settlement systems, Economics and Financial Markets.
At RBI, he worked across departments including financial markets, foreign exchange management, external investments, banking regulation and supervision, IT transformation, payment and settlement systems, training and HR initiatives and financial inclusion, the release highlighted.
During his RBI stint, Khan also chaired the committee on rural credit and microfinance, which focused on expansion of banking network through the Information and Communications Technology (ICT) enabled business correspondents.
