Private Equity Other Private Equity/Strategic Investments
DBS Bank India acquires 10% stake in NBFC Svakarma
Source Mint (opens in a new tab)
DBS Bank India Ltd, a unit of Singapore's DBS Bank, has acquired a 9.9% stake in Mumbai-headquartered Svakarma Finance, a non-banking financial company (NBFC), for delivering financial solutions to micro-enterprises through a combination of direct lending and co-lending.
Svakarma is a non-deposit-taking NBFC, set up by former bankers to target micro-enterprises using a cluster-focused delivery model leveraging technology and data. It is currently present across Gujarat, Maharashtra, and Tamil Nadu.