Mumbai: AU Small Finance Bank, India’s largest Small Finance Bank announced the appointment of Shri Harun Rashid Khan as Non-Executive Independent Director (Additional Director) on the Board, for a period of three years, effective 28th December 2021, subject to the approval of Shareholders.
While announcing the appointment, Sanjay Agarwal, MD & CEO, AU Small Finance Bank said, “We are really honored to welcome Khan to the Bank’s Board of Directors and are grateful for his consent to join the Board. The Bank would immensely benefit from his vast and diverse experience across the financial services ecosystem as we chart out the Bank’s next phase of growth. He will bring a fresh perspective to the deliberations and the Board is looking forward to working with him closely. The appointment is part of the Bank’s endeavor to strengthen the Board and its independence.”
Speaking on his appointment, Raj Vikash Verma, Chairman of the Board, AU Small Finance Bank said, “With his strong regulatory background and vast experience of over four decades as a career central banker, Mr. Khan’s addition to the Board is a welcome step. As the Bank continues to expand its balance sheet, his joining the Board will help in further strengthening the governance ecosystem of the Bank”.
H. R. Khan, a career central banker, has a vast experience of over four decades in the areas of Banking & Finance, Payment and Settlement Systems, Economics, Financial Markets and has handled leadership positions as the Deputy Governor & the Executive Director at the Reserve Bank of India. At RBI, he had handled diverse 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.
He had chaired the Committee on the Rural Credit and Micro finance which focused on the 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 the 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, liberalization, and rationalization of the portfolio flow regulations set up by the SEBI. He was also a member of the Committees on Digital Payments set up by the Government of India and the RBI.
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.
The Board of Directors of Bank has expanded to nine members of which seven are Independent Directors having expertise in varied fields. At present, the Bank’s Board of Directors comprises of Mr. Raj Vikash Verma, Part-time Chairman & Independent Director; Mr. Sanjay Agarwal, Managing Director & CEO; Mr. Uttam Tibrewal, Executive Director; Mr. Krishan Kant Rathi, Independent Director; Ms. Jyoti Narang, Independent Director; Prof. M. S. Sriram, Independent Director; Mr. Pushpinder Singh, Independent Director; Mr. V. G. Kannan, Independent Director.