DBS Bank India acquires a 9.9% stake in Svakarma Finance – DBS Bank India Ltd has acquired a 9.9% stake in Svakarma Finance for delivering relevant financial solutions to micro-enterprises through a combination of direct lending and co-lending. Svakarma Finance is a non-deposit-taking, non-banking finance company.
- DBS Bank India is looking for expanding franchises across over 300 locations and over 500 branches and envisages significant growth in SME and consumer businesses.
- It will also identify opportunities to support lending to micro-enterprises in a cost-efficient manner through its own expanded franchise as well as through partners.
- Svakarma Finance is present in Gujarat, Maharashtra, and Tamil Nadu and is looking to expand its network across the country.
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