HDFC Bank to support underserved women borrowers

Mumbai: HDFC Bank on Friday said it has raised $500 million from IFC for lending loans to underserved women borrowers. The country's largest private sector lender will extend finance for income generation, fostering financial inclusion and socio-economic growth, as per an official statement.

It will extend the microloans to self-help groups and joint liability groups of women enrolled under the Sustainable Livelihoods Initiative (SLI) of the lender. HDFC Bank's group head for Treasury, Arup Rakshit, said this is a longer duration credit facility which has been availed by the lender, and it will help in boosting the bank's efforts in empowering women.