CURRENT AFFAIRS : BANKING & FINANCE
IndusInd Bank signs $100 million loan agreement with JBIC
- IndusInd Bank’s GIFT City IBU (IFSC Banking Unit) branch has entered into a $100 million long-term loan agreement with the Japan Bank for International Cooperation (JBIC) to foster the growth of Japanese construction equipment companies in India.
- The funds raised will be used to provide need-based credit facilities to upstream and downstream companies that comprise the supply chain of Japanese original equipment manufacturers (OEMs) in India,
- This is the first of its kind lending by JBIC through any IFSC Banking unit at GIFT City.
