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DishaMicrofin Receives Final Licence From RBI; To Start Operations from July
May 18, 2017
DishaMicrofin, a company owned by financial inclusion company Fincare, has received the final license from Reserve Bank to run operations as a small finance bank. As per the official statement, the bank will be called Fincare Small Finance Bank and is set to be operational from July 2017 onwards.
Rajeev Yadav, CEO of Fincare, said that the license will allow them to offer high-ticket loans and liabilities products to the MSMEs and affordable housing loans to others. The current target for the next five years is to book loans of total worth Rs. 20,000 crore, he added.
