The AU Small Finance Bank Digital Savings Account stands out because it pairs a zero balance requirement with features people usually link to a premium branch account: an insured debit card, doorstep services and interest credited every month.
The CBI has filed a charge sheet in Panchkula against 15 accused in the alleged misappropriation of Rs 504 crore belonging to the Haryana government. Those named include six officials from IDFC First Bank and AU Small Finance Bank, three public servants from key state departments, and partners of shell entities.
Haryana’s Vigilance Bureau arrested four people, including former bank officials, in the Rs 590-crore IDFC First Bank fraud case linked to government accounts. Nearly Rs 556 crore has been recovered so far, while investigations continue into fund diversion
The company is initially launching the platform in 30 cities through its premium car retail chain Nexa, targeting salaried customers with plans to expand its mass market chain Arena.
