IndusInd Joins Hands with SV Creditline

Current Context: IndusInd Bank signed a co-lending agreement with SV Creditline Ltd (SVCL) for INR 500 Cr loan, exclusively for women borrowers.

• Under this agreement, women will get affordable loans for activities such as:

1. Agriculture
2. Animal Husbandry
3. Local Manufacturing
4. Trading

• The SVCL will grant to women with an annual income of:

1. INR 125,000 per annum or less (rural area)
2. INR 200,000 per annum or less (urban area)

• Through its 227 branches, the SVCL will grant loans in 130 districts of 10 states in the country.
• SVCL is an RBI-registered Non-Banking Financial Company (NBFC) that was established in 1996 with its headquarters in Gurugram. Its Board of Directors includes Sunil Sachdeva, Vijay Parekh, Meeta Makhan, Anil Kr Jha, Kalpataru Tripathy and Vivek Goyal.
• IndusInd Bank Limited is a financial services company that was established in 1994 with its headquarters in Mumbai. The current CEO of the company is Sumant Kathpalia.

Question:

Q.1 Which of the following bank recently signed an INR 500 Cr co-lending agreement with SV Creditline Ltd (SVCL) for women borrowers?
a. IndusInd
b. HDFC
c. ICICI
d. Canara