DCB Bank has received in-principle approval to invest up to Rs 2.04 crore at par to acquire 09.90% shares of the post issue equity share capital of Svakarma Finance. Svakarma Finance, is a Non Banking Financial Company ('NBFC') engaged in lending to Micro, Small and Medium enterprises to meet their business requirements and to other financial institutions engaged in lending to these enterprises. The objective of the acquisition will be equity investment.
DCB Bank is one of the emerging private sector banks in India. The Bank is amongst the first private sector banks to waive advisory fee and service charge for Mutual Fund investment.
