Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.