IndusInd Bank to raise $150 million loan from DFC to support women entrepreneurs

21 Oct 2022 , 03:15 PM

IndusInd Bank has 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.”

At around 3:15 PM, IndusInd Bank Ltd is currently trading at Rs1,146.45 per share down by Rs13.5 or 1.16% from its previous closing of Rs1,159.95 per share on the BSE.

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