DCB Bank buys microfinance firm

DCB Bank has bought 5.81 per cent stake in Annapurna Microfinance Pvt Ltd for ₹9.99 crore, the bank said in a filing to the BSE on Tuesday. Annapurna Microfinance has 172 branches in rural areas of Odisha, Chhattisgarh, Jharkhand, Maharashtra, Rajasthan, and Madhya Pradesh. The microfinance firm has assets under management worth ₹720 crore. Microfinance firms, of late, are attracting investor interest on the bourses.