International Finance Corporation (IFC) has today extended Rs 50 crore loan to Sundaram Home Finance and plans to issue mortgage-based securities for another Rs 50 crore with the company.
"This is the first time IFC has extended a local currency loan," IFC Mumbai head, Loy Pires, said.
This project is part of a broader IFC strategy to build a portfolio of local currency products to provide clients in the country long-term finance without imposing currency risk, stated IFC in a press communiqu