DBS Bank India Ltd. said it has acquired a 9.9% stake in Svakarma Finance, a non-deposit taking, non-banking finance company, for delivering relevant financial solutions to micro enterprises through a combination of direct lending and co-lending.
“DBS Bank India’s strategy for its expanded franchise across over 300 locations and over 500 branches envisages significant growth in SME and consumer businesses,” the bank said in a statement.
It said it will continue to identify opportunities to support lending to micro enterprises in a cost-efficient manner through its own expanded franchise as well as through partners.
Currently present in Gujarat, Maharashtra, and Tamil Nadu, Svakarma is looking expand its network across the country.
