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Friday, January 30, 2015

Dewan Housing seeks small finance bank licence

Housing finance major Dewan Housing Finance Corporation Ltd (DHFL) has filed an application seeking a licence for a `Small Finance Bank’ from the RBI.

The foray into banking operations would enable DHFL `transform into a more robust and scalable business model’ that was aligned with its long-term growth aspirations.

In a filing with the stock exchanges, DHFL said it had filed an application seeking a banking licence from the RBI for `Small Finance Bank (SFB)’. The HFC has been in existence for more than 30 years, focussing on the lower and middle-income groups. It said its vision, if granted a licence, was to emerge as a `Big Bank for Small Finance’.

It would, however, maintain its focus on its `core capabilities geared towards financial inclusion’, the company statement said.

Shares of DHFL closed at Rs. 471.50 today, down by Rs. 5.45 in a weak market on the BSE.

Source : Thehindubusinessline


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