Small finance bank RGVN to raise $20 mn from IFC

Investment to help the SFB support growth and manage its liability during early years

RGVN, one of the 10 recipients of the small finance bank (SFB) license, will raise around $20 million (approximately Rs 130 crore) from the International Finance Corporation (IFC).

IFC, the World Bank's investment arm, said that it would invest up to $20 million in RGVN in the form of a senior debt investment.

Besides, its investment would help the company support growth and manage its liability during the early years as it transitions to becoming an SFB.

It would also help RGVN diversify its product suite by offering longer-tenor loans to its mature microfinance clients for micro and small enterprises.