Equifax India, IFC partner to provide credit data on SHGs

Credit information company Equifax India today signed an agreement with International Financial Corporation (IFC) to deepen coverage of self-help group (SHG) member data in credit bureaus.
The agreement will promote financial inclusion and access to funds for women from lower income groups by facilitating integration of SHG borrower data with credit bureaus.
"The initiative will increase the number of borrower profiles in the credit bureaus and thereby help them benefit while applying for new credit facilities," Equifax's head ( product management) Sundar Arumugam, said in a statement here today.
............................................................. RBL Bank completes Rs 1,680-cr fund raising
Small size private lender RBL Bank today said it has raised Rs 1,680 crore through a preferential issue of shares to investors including private equity funds and insurance companies.

The bank issued 32.62 million equity shares on preferential basis at a price of Rs 515 per share, it said.
CDC Group, Multiples Alternate Asset Management, HDFC Standard Life Insurance Company, Global IVY Ventures, ICICI Lombard General Insurance Company and Steadview Capital participated in the issue, it said.
"This infusion will give us the desired flexibility and enable us to maintain our growth momentum," the bank's managing director and chief executive, Vishwavir Ahuja, said.