The board of private lender IndusInd Bank has authorised a plan to raise Rs 20,000 crore in debt to finance company expansion. In a meeting, the bank’s board of directors approved the proposal, according to a statement from IndusInd Bank. The board authorised the issuance of debt securities in any permitted manner through a private placement on the condition that the total amount raised does not exceed Rs 20,000 crore.
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As required, it may also be raised in foreign currencies with the consent of the bank’s members and after receiving any additional governmental or regulatory permissions.
About IndusInd Bank:
A modern Indian bank with its headquarters in Mumbai (Maharashtra) is called IndusInd Bank Limited. The bank provides goods and services for transactional, commercial, and electronic banking. Manmohan Singh, who was the Union Finance Minister at the time, formally opened IndusInd Bank in April 1994. The first of India’s newer generation of private banks is IndusInd Bank.