DBS Bank India acquires 9.9% stake in Svakarma Finance
Mumbai, India: DBS Bank India Limited today announced that it has acquired a 9.9% stake in Svakarma Finance, a non-banking finance company, for delivering relevant financial solutions to micro enterprises through a combination of direct lending and co-lending.
DBS Bank India's strategy for its expanded franchise across 300+ locations and 500+ branches envisages significant growth in SME and consumer businesses. DBS will continue to identify opportunities to support lending to micro enterprises in a cost-efficient manner through its own expanded franchise as well as through partners.
