| Microfinance entity Bandhan has received an investment commitment from Singapore's sovereign wealth fund GIC to shore up capital as it looks to start banking operations before September 2015. The Calcutta-based microlender today said its capital base would increase by around Rs 1,700 crore following the investments by GIC and World Bank group member International Finance Corporation (IFC), which already has an equity stake of 10.9 per cent in the company.
Of the Rs 1,700 crore fresh capital infusion, IFC would invest around Rs 580 crore and GIC the rest. The Small Industrial Development Bank of India (Sidbi) also has a 10 per cent stake...............................................Full Article: Source
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