International Finance Corporation, which is a part of a World Bank Group, is now looking to make an equity investment in the Sachin Banal owned Navi Technologies or NAVI.
According to the report, the processed investment by IFC is the tune of the INR 2100 million in Navi for a 4.5 per cent equity stake in the company.
This comes just after the month of Sachin Bansal picked up a majority stake in the Chaitanya Rural Intermediation Development Services last September, pumping around INR 739 crore, in the NBFC.
Speaking on the move, Sachin Bansal, CEO of Navi, said,
“Building a universal bank is a reflection of our commitment to provide financial services to those who need them most. Our vision is to go beyond what hitherto has been broadly defined as ‘financial inclusion’ and provide access to formal financial services using technology that people can use intuitively and easily.”