IndusInd proposes to raise Rs 200 billion to fund growth

Private lender IndusInd Bank said its board has approved a proposal to raise Rs 200 billion in debt to fund business growth. The bank's board approved the proposal in its meeting held on Monday, IndusInd Bank said in a statement. The board approved raising funds through debt securities in any permitted mode on a private placement basis as may be decided, for an aggregate amount not exceeding Rs 200 billion. It can also be raised in foreign currencies as may be necessary subject to approval of the members of the bank and receipt of other governmental or regulatory approvals.