Grama Vidiyal to act as dedicated Business Correspondent of IDBI Bank
IDFC announced IDFC Bank, listed subsidiary of the Company has entered into a share purchase agreement with Grama Vidiyal Micro Finance (GVMFL) for acquisition of 100% Equity Share Capital of GVMFL.Grama Vidiyal will act as a dedicated Business Correspondent of IDBI Bank and will help deepen reach and widen the delivery mechanism for banking services. The move enables IDFC Bank to significantly enhance its network and reach and make basic banking services available to a large customer base.
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