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ESAF Small Finance Bank Looks for Foreign Equity Partner
December 22, 2017
ESAF Small Finance Bank, which received its license from the Reserve Bank of India (RBI) more than a year ago, is now looking for a foreign equity partner.
The bank’s CEO and MD K Paul Thomas said that they are already in talks with foreign investors and by the next fiscal year a deal may get formalized.
As per the RBI norms, foreign investment in Small Finance Banks can go as high as 49% through the automatic route, and 74% after getting the central bank’s approval.
As ESAF is working on finding a foreign partner, it also plans to begin the next round of capital infusion soon.
