Tag: Debt Financing

Indifi secures Rs 35 crore in debt financing from IndusInd Bank, BFSI News, ET BFSI

Banking & Finance

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Online lending platform Indifi Technologies on Monday said it has secured Rs 35 crores in debt financing from IndusInd Bank Ltd. These funds were deployed through a Rs 35 crore of term loan from IndusInd bank’s impact investing group to Riviera Investors Private Limited which is Indifi‘s in-house Non-Banking Financial Company (NBFC) arm.

The funds will be used for onward lending to small businesses (Micro, Small and Medium Enterprises) to accelerate post-COVID economic recovery, Indifi said.

“We are extremely thankful to the US International Development Finance Corporation (DFC) and IndusInd Bank for this facility which comes to us at the right time and helps us in our goal of extending debt financing to underserved MSMEs who are recovering from the COVID impact,” Siddharth Mahanot, Co-founder and COO, Indifi Technologies, said in a statement.

Indifi claims to have successfully disbursed over 30,000 loans across more than 12 industries since its inception.

“Indifi deploys a unique and innovative approach to improve access to finance for small businesses, which are an important engine for economic growth in the Indian economy,” Loren Rodwin, Managing Director of Social Enterprise Finance in DFC’s Office of Development Credit said.



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Government sets-up DFI looks to disburse Rs 5 lakh crore in three years, BFSI News, ET BFSI

Personal Finance

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The central government has announced setting up of a Development Finance Institutions to boost infrastructure financing.

Finance Minister Nirmala Sitharaman said, “Infrastructure needs long term debt financing. A professionally managed Development Financial Institution is necessary to act as a provider, enabler and catalyst for infrastructure financing. Accordingly, I shall introduce a Bill to set up a DFI. I have provided a sum of `20,000 crores to capitalise this institution. The ambition is to have a lending portfolio of at least `5 lakh crores for this DFI in three years time.”

She added, “Debt Financing of InVITs and REITs by Foreign Portfolio Investors will be enabled by making suitable amendments in the relevant legislations. This will further ease access of finance to InVITS and REITs thus augmenting funds for infrastructure and real estate sectors.”

S Viswanatha Prasad, Founder and Managing Director- Caspian Debt said, “The setting up of a new DFI for providing infrastructure capital and leveraging it is a welcome move, however it should focus on providing capital only to the private sector and non-profits. Another DFI lending to Government entities will not create any differentiator.”

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