RBL Bank gets rights to acquire 100% stake in Swadhaar FinServe

Currently, Swadhaar operates in 17 states and union territories through 242 branches

After hiking stake to 60 per cent in Mumbai-based financial services products distributor Swadhaar FinServe (SFL), private lender RBL Bank has acquired rights to increase the stake to 100 per cent.

Early this month, RBL increased its stake in SFL, a captive business correspondent company, from 30 per cent to 60.48 per cent. With this, the business correspondent company is a subsidiary of the bank.

The bank in a statement said SFL is engaged in offering services to the financial inclusion segment covering micro, small and medium enterprises (MSME) and micro banking in rural and semi-urban areas.

The bank holds