RBI has made it compulsory for online marketplaces and aggregators to open Nodal Accounts with banks to protect the interests of merchants and buyers. This account collects the funds of sales that are done online through marketplaces or intermediaries. Funds are collected in this account for payments to sellers.
In 2016, after the demise of her husband and two sons, Hema took charge of her husband’s Motor Driving School. AU Bank transferred the car loans in her name and provided support when Hema needed it the most. After one year, Hema became independent and her business is running better then before. She is also providing employment to four drivers in her Motor Driving School.
AU Bank was very quick. The customer service was very cheerful and helpful there. They sort everything very nicely.
Raju Bhai a progressive farmer who hails from a village near Ahmedabad had understood that dependence on agriculture alone for livelihood will never be enough to fend for his family. AU Bank extended support and gave wings to his aspirations by catering to his financial requirements.
Raju Bhai is earning handsome surplus, besides the income from his agriculture income. He has a well-settled pick-up vehicle business with three vehicles and two drivers who are paid 8000 each.