IndusInd Bank enters into Rs 500-crore co-lending pact with SV Credit Line

Private sector IndusInd Bank announced its tie-up with non-banking finance company SV Credit Line for a co-lending agreement for Rs 500 crore loan exclusively to women borrowers.

The agreement will help rural women access to affordable loans which they could use for a wide range of economic activities such as agriculture, animal husbandry, trading and local manufacturing, among others, SV Credit Line said in a statement.

''The fact that we offer their products and services only to women customers makes this proposition a winning one,'' SV Credit Line Group CEO Vivek Goyal said.

The NBFC (non-banking finance company) only lends to women customers and has a 3.5 lakh customer base serviced by 248 branches spread across 10 states and 130 districts.