SMBC extends $12m social loan to Indian microfinancing institute
The Japanese bank has tapped into India’s microfinancing sector through a facility with Svatantra Microfin, which targets female entrepreneurs in India’s rural areas.
Tokyo-headquartered Sumitomo Mitsui Banking Corporation (SMBC) has signed a bilateral Rs1 billion ($12 million) social loan facility for Svatantra Microfin Private, completed through its Mumbai branch.
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