Updated By: LatestGKGS Desk
RBL Bank Purchased 100% stake in Swadhaar FinServe: Details
RBL Bank Purchased 100% stake in Swadhaar FinServe: Details, About
RBL Bank Limited has raised its stake in microlender Swadhaar FinServe Pvt Ltd to 100 percent to help expand its financial inclusion initiatives.
RBL Bank Limited had earlier held 60.48 percent stake in Swadhaar FinServe, now it buys the left 39.52 percent stake, which is an exclusive business correspondent of the lender.
RBL Bank didn’t disclose the value of the all-cash deal citing confidentiality reasons.
RBL Bank sees Swadhaar as a vehicle catering to underserved households and small businesses. RBL bank will also look to leverage Swadhaar’s growing branch network to offer other relevant products to customers in semi-urban and rural markets
RBL Bank
RBL Bank Limited is a scheduled commercial bank
Founded: August 1943
Headquarters: Mumbai, Maharashtra
MD & CEO: Vishwavir Ahuja
Tagline: APNO KA BANK
