Muthoot Microfin Looking to Raise $50 Million in ECB
Muthoot Microfin Secures $75M External Funding
Muthoot Microfin, a leading microfinance institution, has successfully secured a $75 million External Commercial Borrowing (ECB) to diversify its funding sources and support its growth initiatives.
The ECB, obtained through a syndicated loan arrangement, reflects Muthoot Microfin's ability to access international capital markets and strengthen its financial position. The funds will be utilised to expand the institution's lending activities and support its mission of providing financial inclusion to underserved communities.
This strategic move aligns with Muthoot Microfin's commit..
Muthoot Microfin Secures $75M External Funding
Muthoot Microfin, a leading microfinance institution, has successfully secured a $75 million External Commercial Borrowing (ECB) to diversify its funding sources and support its growth initiatives.
The ECB, obtained through a syndicated loan arrangement, reflects Muthoot Microfin's ability to access international capital markets and strengthen its financial position. The funds will be utilised to expand the institution's lending activities and support its mission of providing financial inclusion to underserved communities.
This strategic move aligns with Muthoot Microfin's commit..
PNB Official Accused of Embezzling Rs 5 Crore from Bhopal Firm
The Central Bureau of Investigation (CBI) has charged a Punjab National Bank (PNB) official with embezzling approximately Rs 4.98 crore from a Bhopal-based infrastructure construction company. The head cashier, Mukul Singh, allegedly conspired with a private individual, Vinod Kumar Singh, to commit the fraud.
The incident occurred at PNB?s Delhi Road Branch in Hapur, Uttar Pradesh. According to CBI officials, Mukul Singh, without proper authorization, merged the account of Dilip Buildcon Ltd with that of Vinod Kumar Singh?s company, Star Raze. Subsequently, funds amounting to Rs 4.98 cr..