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ET Financial Inclusion Summit: DBT scheme's proved to be a boon for crores of Indians

ET Financial Inclusion Summit: DBT scheme’s proved to be a boon for crores of Indians
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ET Financial Inclusion Summit: DBT scheme’s proved to be a boon for crores of IndiansET Bureau
Last Updated: Jul 19, 2021, 09:01 AM IST
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Digital adoption was also accelerated by the pandemic as withdrawals by DBT beneficiaries increased two-thirds last fiscal.
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India took a giant leap toward financial inclusion by harnessing technology to directly transfer federal welfare benefits to individual bank accounts, bringing about 300 million of its marginalised citizens within the ambit of formal financing.
The Aadhaar-based Direct Benefit Transfer (DBT) system has brought banking access in some form to about 80% of India’s population by 2017, up from 50% in 2014. Plans are afoot to provide DBT beneficiaries access to a larger bouquet of financial services, said the panellists at a plenary session at the ET Financial Inclusion Sum ....

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Fincare SFB files DRHP for IPO of up to ₹1,330 cr - The Hindu BusinessLine

Fincare SFB files DRHP for IPO of up to ₹1,330 cr
May 09, 2021
Rajeev Yadav, Chief Executive Officer of Fincare Small Finance Bank, (File photo) - The Hindu×
Fincare Small Finance Bank will be making an initial public offer (IPO) aggregating up to ₹1,330 crore, comprising fresh issue aggregating up to ₹330 crore and an offer-for-sale aggregating up to ₹1,000 crore by the promoter selling shareholder.
Fincare SFB proposes to utilise the net proceeds from the fresh issue towards augmenting its Tier-1 capital base to meet its future capital requirements, according to the bank’s Draft Red Herring Prospectus (DRHP).
The bank may, in consultation with Managers (to the IPO), consider a pre-IPO Placement aggregating up to ₹200 crore, the DRHP said. ....

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Fincare Small Finance Bank files DRHP with SEBI, plans to raise Rs 1,330 crore via IPO

The public offer comprises a fresh issue of Rs 330 crore by the bank, and an offer for sale of Rs 1,000 crore by promoter Fincare Business Services. ....

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Bharti AXA Life Insurance establishes bancassurance partnership with Fincare Small Finance Bank

Bharti AXA Life Insurance establishes bancassurance partnership with Fincare Small Finance Bank
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