Question
Download Solution PDFWhich bank is receiving up to US$500 million financing from IFC to support microloans for women in semi-urban and rural areas?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is HDFC Bank.
In News
- HDFC Bank is receiving up to US$500 million financing from IFC to support microloans for women borrowers, particularly those in semi-urban and rural areas.
Key Points
- IFC financing will help HDFC Bank expand microloan lending to Self-Help Groups (SHGs) and Joint Liability Groups (JLGs), specifically aimed at women borrowers.
- HDFC Bank's business line, the Sustainable Livelihoods Initiative (SLI), focuses on microfinance lending programs exclusively for women borrowers.
- The financing will also help SHG and JLG borrowers graduate to individual lending schemes, promoting greater financial inclusion and self-employment opportunities for women.
Additional Information
- IFC's Role in Microfinance
- IFC is a major international funder in the microfinance sector and aims to increase financial inclusion for underserved populations, especially women.
- Microfinance in India
- Non-banking financial companies and microfinance institutions are significant contributors to lending for income generation, especially for women in India.
Last updated on Jul 3, 2025
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