IndusInd took term loan of $500 million from overseas lenders

$500 million has been raised by IndusInd bank by term loan from overseas lending bodies.

Th bank said on Monday that it has raised Rs 3,193.75 crore from overseas to expand its business.

The fundraising, along with the funds raised during the ongoing financial year from multilateral institutions ADB and OPIC, will help the bank expand its lending to clients, it said.

The tenor of the loan is for three years and will be used for general banking purposes, it added.

Earlier in June, IndusInd Bank had raised $225 million (about Rs 1,445 crore) from the US government funding agency Overseas Private Investment Corporation (OPIC) for lending to small and medium enterprises.