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Navi Group sells microfinancing arm to Svatantra Microfin for $178.5m

  • Svatantra Microfin to become India’s second-largest microfinancing firm following Chaitanya India acquisition.
  • Sale part of Navi Group’s strategy to prioritize digital-first businesses.
  • Navi, rejected for banking license by RBI last year, had filed for a $440m IPO.
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