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R Thyagarajan, the founder of the Indian conglomerate Shriram Group, has built a successful lending business by targeting low-income borrowers.
Dvara KGFS is a deep rural NBFC, which goes beyond lending and offers products and services, including credit, savings, insurance and pension instruments; it has even applied for a Small Finance Bank (SFB) license.
3 hours ago On Thursday, the Reserve Bank of India (RBI) released a list of eight entities/promoters who wish to apply for universal commercial bank and small finance bank licenses. The top contenders include Sachin Bansal’s Chaitanya India Fin Credit, forex major UAE Exchange and Dvara’s micro-finance arm. Recently, the central bank appointed an expert committee to evaluate applicants for bank licenses. This committee will evaluate fresh applicants who wish to apply for ‘on tap’ bank licenses over the next three years, in addition to non-bank lenders and payments bank that wish to co...