RBL Bank acquires additional 30.48% stake in Swadhaar Finserve

Total stake holding rises to 60.48% in Swadhaar FinServe

RBL Bank has increased its stake from 30% to 60.48% in Swadhaar FinServe - a captive business correspondent of RBL Bank - engaged in offering services to the financial inclusion segment covering MSME & Micro banking in rural and semi-urban areas.

RBL Bank bought the additional 30.48% stake in Swadhaar Finserve, in line with its business strategy to leverage technologies and partnerships and extend its service offerings to the under-banked. The Bank holds rights to increase its stake to 100% subject to regulatory approvals.

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