DCB Bank acquires 9% equity stake in Bengaluru-based NBFC

Private lender DCB Bank on April 21 announced that it has acquired a minority equity stake of about 9 per cent in Bengaluru-based non-banking financial company (NBFC) Techfino Capital Private Limited (TCPL).

Apart from on-lending to customers, DCB Bank will use the funds raised by TCPL will be used in enhancement of current tech stack.

TPCL Co-Founder Director Jayaprakash Patra said that the association will help in the growth of the business as TCPL goes about providing financing solutions to its customers. "Together, we aim to create a win-win ecosystem, offering our customers a bouquet of customised financial solutions using TCPL's robust technology platform," he added.

Earlier this week, DCB Bank received the approval form the Reserve Bank of India (RBI) for the re-appointment of Murali M. Natrajan as the Managing Director & CEO, for further period of one year from April 29, 2021.