The International Finance Corporation (IFC) which is a part of World Bank group, is planning to acquire 20 per cent shareholding in Swadhaar FinServe (SPFL) with an equity investment of Rs 10.5 crore(US$2.25 million approximately).
Swadhar Finservie an urban microfinance institution based operating in Mumbai and it’s surroundings and has 27 outlets in Mumbai, Baroda and Pune and plans to expand its operations to Rajasthan and Central India.The word “swadhaar” in Hindi means self-support.
Source:India Micro Finance