November 23, 2024 02:51 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024 | UK can arrest Benjamin Netanyahu if he visits country based on ICC warrant | Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma
IndusInd Bank to raise USD 150 Mn loan from DFC to support women entrepreneurs
IndusInd Bank

IndusInd Bank to raise USD 150 Mn loan from DFC to support women entrepreneurs

| @indiablooms | 21 Oct 2022, 06:22 pm

Kolkata: IndusInd Bank on Friday announced that it has executed a commitment letter with the United States International Development Finance Corporation (DFC) for a loan worth USD 150 Mn.

The Bank plans to use the proceeds of this loan to expand the Bank’s microfinance lending for the women borrowers in rural communities of Jharkhand, Uttar Pradesh, and Bihar.

Under this program, IndusInd Bank aims at boosting access to finance for women borrowers, as well as uplifting the livelihoods of these women and their families. This project advances DFC and the Bank’s commitment in economically empowering women customers.

Sumant Kathpalia, Managing Director and Chief Executive Officer of IndusInd Bank, said, “At IndusInd Bank, we are committed to the cause of fostering financial inclusion and making credit available in large swathes of unbanked and underbanked India. This program aligns with the Bank’s philosophy and focus to inculcate gender inclusion and empower the women entrepreneurs. This also marks a significant milestone for the Bank and shows the continued trust of the global investors in the Bank’s focus on sustainable growth.”

IndusInd Bank, a leading private bank headquartered in Mumbai, India had acquired Bharat Financial Inclusion (BFIL) in 2019 embarking on its transformational journey in the microfinance business. These customers are an important segment of the Indian economy, but are often constrained by lack of access to capital. This DFC loan will support IndusInd Bank in increasing its reach and enhance lending to women in the targeted states.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.