AU Small Finance Bank Mourns Sudden Loss Of CFO Vimal Jain, A Pillar Of Its Financial Leadership

AU Small Finance Bank Ltd is grieving the untimely demise of its Chief Financial Officer, Vimal Jain, who passed away early on September 10, 2025, due to cardiac arrest. Jain, aged 52, had been an integral part of the bank’s journey since 2010, playing a pivotal role in its transformation from a regional finance company into a full-fledged small finance bank. His passing marks a profound moment of loss for the institution, its employees, and the wider financial community.

 

The announcement was made through an official filing to stock exchanges under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements. The bank described Jain as a deeply admired leader whose legacy will continue through the strong team he built and mentored over the last 15 years.

 

Key Highlights From The Announcement

 

- Vimal Jain passed away on September 10, 2025, due to cardiac arrest  

- He served as CFO of AU Small Finance Bank since its inception as a bank in 2017, and was associated with the institution since 2010  

- Jain was credited with building a resilient Finance and Accounts team and guiding the bank through key regulatory transitions  

- The bank has initiated interim succession planning to ensure continuity  

- Condolences have poured in from across the financial sector, recognizing Jain’s leadership and integrity  

 

Legacy Of Leadership And Financial Stewardship

 

Vimal Jain’s tenure at AU Small Finance Bank coincided with some of the most transformative phases in the institution’s history. From its early days as AU Financiers to its transition into a scheduled commercial bank in 2017, Jain was instrumental in shaping its financial architecture, compliance frameworks, and investor relations.

 

His contributions included:

 

1. Leading the bank’s IPO preparation and successful listing in 2017  

2. Establishing robust internal controls and financial reporting systems  

3. Navigating regulatory transitions including CRR/SLR compliance and Basel norms  

4. Building a high-performing finance team known for agility and precision  

 

Jain was also a key figure in AU’s strategic planning, helping align financial goals with operational expansion across Tier 2 and Tier 3 cities.

 

Immediate Impact And Succession Planning

 

AU Small Finance Bank has confirmed that it has initiated steps for interim succession planning. While no successor has been named yet, the bank emphasized that Jain’s team is well-equipped to carry forward his vision and maintain operational continuity.

 

The Board of Directors is expected to convene in the coming days to formalize interim arrangements and begin the process of identifying a permanent successor. The bank has assured stakeholders that all financial operations remain stable and unaffected.

 

Industry Reaction And Tributes

 

News of Jain’s passing has prompted an outpouring of condolences from peers, regulators, and industry leaders. His reputation for ethical leadership, strategic foresight, and mentorship was widely recognized across the banking and finance community.

 

Senior executives from RBI, SEBI, and other financial institutions have acknowledged Jain’s role in shaping AU’s growth trajectory and his contribution to India’s evolving financial inclusion landscape.

 

AU Small Finance Bank’s official statement described him as a pillar of strength and a deeply loved leader whose perseverance and learning aptitude inspired many.

 

Forward Outlook

 

While the loss of Vimal Jain is deeply felt, AU Small Finance Bank remains committed to upholding the standards and systems he helped build. The institution is expected to continue its growth path, guided by the principles of transparency, resilience, and innovation that Jain championed.

 

His legacy will live on through the teams he mentored and the frameworks he established, serving as a lasting tribute to his leadership.

 

Sources: Rediff MoneyWiz Announcement, NDTV Profit Coverage