The deal is expected to be partly in share-swap, and partly in cash for the micro lender backed by private equity firm Elevar Equity Mauritius.
The firm is targeting its loan book to cross Rs 1500 crore by end of this financial year compared with Rs 725 crore as of March, 2018.
The quantum of punishment will depend on the magnitude of divergence from the prescribed norms and the auditors would be provided sufficient hearing before action is taken.
To regain its past glory, IDBI requires a new vision and strategy from B Sriram who has taken over as its new CEO. Capital alone won't be enough.
With the 100% acquisition, RBL Bank now plans to use Swadhaar’s network to take all its retail loan offerings and loans against property to the underserved customers.
Swadhaar is a business correspondence that works exclusively for RBL Bank.
The rupee mirrored the NDF market trend where the local currency was traded at 69.20 last night.
The bank has shared a revival plan, wherein it has proposed to raise Rs 1,900 crore via QIPs and other means; resolution of IBC cases is expected to add Rs 3k crore.
The firm has also decided to raise about Rs 250 crore in bonds in private placement deals.
Rural loans accounted for just about 10% to Indian total credit outstanding in 2016, the red-herring prospectus of CreditAccess Grameen said.
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