According to an official notification on Monday, AU Small Finance Bank (SFB) announced the appointment of former Reserve Bank of India Deputy Governor HR Khan as part-time chairman.
It added that Raj Vikash Verma ended his tenure on 29 January 2024 and will cease to be part-time chairman and independent director of the bank with immediate effect.
“The Board of Directors and the entire family of AU Bank place 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 as per recommendation made by the Nomination and 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) will assume the position of Part-time President of the Bank until January 30, 2024 until the end of his first term as an Independent Director of the Bank ie December 27, 2024.
The former Deputy Governor of RBI has over four decades of 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 expanding banking network through the Information and Communication Technology (ICT) enabled business correspondents.