RBL Bank has raised Rs 330 crore from the UK-based development finance institution CDC Group. The funding will be through Basel III compliant tier II capital, which the bank expects, will strengthen its capital base, which in turn will support its businesses such as SME lending, agribusiness financing and financial inclusion. The funds can also be used for expanding its activities. The bank is an existing CDC investee company – having received Rs 174 crore equity investment in March 2014 and subsequent pre-IPO investment of Rs 44.5 crore in October 2015. CDC has consistently supported the bank’s growth as it developed from a regional bank to a pan-India bank with 201 branches and 373 ATMs across 16 Indian states and union territories serving over 2 million customers.
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