DCB Bank gets nod to acquire 5.95% equity share capital of Kaabil Finance

The said acquisition is expected to be completed by March 31, 2022 DCB Bank has received approval from its board for investment up to Rs 25 lakh to acquire 5.95% of post issued paid up equity share capital of the company of Kaabil Finance. The said acquisition is expected to be completed by March 31, 2022. Kaabil Finance is Rajasthan based Non Banking financial Company (NBFC). Kaabil has three business models i.e. own sourcing, Colending for secured business loans and BC for gold loans. At present Kaabil is operating through network of 10 branches in state of Rajasthan and portfolio outstanding is Rs 23.65 crore as on March 2021. (Inclusive of Managed Portfolio)DCB Bank is one of the emerging private sector banks in India. The bank is amongst the first private sector banks to waive advisory fee and service charge for Mutual Fund investment.