Last October, Clix Capital made an attempt to acquire the doddering Lakshmi Vilas Bank (LVB), but lost out to the Singapore-based DBS Bank. Almost a year on, it is in talks to merge with Suryoday Small Finance Bank (SSFB), a listed entity.
As platforms, LVB and SSFB could not have been further apart. The point is that Clix, somehow, wants to be part of a banking story — it’s about survival; and is symptomatic of the concerns facing many second-rung shadow banks. The playfield changed for non-banking financial companies (NBFCs) after the blowout at the Infrastructure Leasing ...
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