Swadhaar: RBL Bank ups stake in Swadhaar FinServe to 100%

Private-sector lender RBL Bank Ltd has acquired the 39.52% stake it doesn't already own in Mumbai-based financial products distribution unit Swadhaar FinServe Pvt. Ltd. The bank didn't disclose the value of the all-cash deal citing confidentiality reasons. The acquisition is in line with the bank's policy of strengthening its market position in the inclusive finance segment, it said in a stock-exchange disclosure. RBL Bank bought the stake from investors including Accion, a global non-profit company focussed on fintech and microfinance sectors. Harjeet Toor, head of retail, inclusion and rural business at RBL Bank, said the bank sees [...]