IndusInd Bank Microlending

Microlending portfolio across lenders of all categories grew 30.9 per cent to Rs 4.02 lakh crore during the December quarter. When compared with the preceding September quarter-end, the overall portfolio showed a 6 per cent growth, the report by a credit information company said. Non-banking finance company-microfinance institutions (NBFCs-MFI) continue to dominate the sector, with a market share of 38.3 per cent, followed by 33.4 per cent for banks, 17.4 per cent for small finance banks and 9.4 per cent with NBFCs, it said. From an asset quality perspective, the loans that are not serviced for over 30 days were stable at 2 per cent, while the same for over 90 days was also stable at 0.9 per cent. The average balance per borrower inched up to Rs 48,900 during the December quarter, as against Rs 48,200 in the quarter-ago period and Rs 46,900 in the year-ago period, the data said. A bulk 83.4 per cent of the borrowers had exposure to less than 2 lenders in December, with Tamil Nadu

IndusInd Bank on Friday said it has secured a loan of over Rs 1,243 crore from the United States International Development Finance Corporation (DFC) for expanding the bank's microfinance lending to women in select states. IndusInd Bank has executed a commitment letter with the United States International Development Finance Corporation for the loan worth USD 150 million, IndusInd Bank said in a release. The private sector lender plans to use the proceeds to expand its microfinance lending to women borrowers in rural communities of Jharkhand, Uttar Pradesh and Bihar. The bank said it aims to boost access to finance for women borrowers under this programme. It will also help in uplifting the livelihoods of these women and their families, IndusInd Bank said. This project advances DFC and the bank's commitment to economically empower women customers. Asserting its commitment towards financial inclusion and making credit available to large swathes of unbanked and underbanked in the ...

The 7-year senior loan will go towards IndusInd Bank's microfinance activities