The profits of this loan will be used by the Bank to increase its lending to women in rural Jharkhand, Uttar Pradesh, and Bihar areas.
With this programme, IndusInd Bank hopes to improve both the financial access of female borrowers and the standard of living for both these women and their families. The goal of DFC and the Bank is to economically empower their female clients, and this project furthers that goal.
"At IndusInd Bank, we are devoted to the cause of fostering financial inclusion and making credit available in significant portions of unbanked and underbanked India," stated Sumant Kathpalia, Managing Director and Chief Executive Officer of IndusInd Bank. This programme is in line with the Bank's concept and emphasis on empowering female entrepreneurs and promoting gender inclusiveness.
This also represents an important turning point for the Bank and demonstrates the sustained confidence of international investors in the Bank's commitment to sustainable growth.
Bharat Financial Inclusion (BFIL), a well-known private bank with its headquarters in Mumbai, India, was bought by IndusInd Bank in 2019 as it started its transformational journey in the microfinance industry. Although they make up a significant portion of the Indian economy, these clients frequently face financial constraints. With the help of this DFC loan, IndusInd Bank will be able to expand its reach and improve lending to women in the targeted states.
