Current Affairs - Banking - Discussion
Discussion Forum : Banking - Latest Current Affairs (Q.No. 1788)
1788.
Which bank has raised its stake in Swadhaar Finserve Pvt. Ltd to 100% from 60.48% recently?
Answer: Option
Explanation:
RBL Bank has raised its stake in Swadhaar Finserve Pvt. Ltd to 100% from 60.48%. The bank has bought the stake it did not own from US-based non-profit Accion. Swadhaar FinServe started operations as a non-banking finance company in 2008. It subsequently converted into an NBFC-MFI. It became a business correspondent for RBL Bank in 2014 and transferred its microcredit portfolio to the bank.
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