The loan is to be deployed through the bank's Impact Investing division, which will support Grameen Impact's lending to local small and medium enterprises.
"This is significant as it eliminates foreign exchange rate fluctuation risk from the balance sheet of Grameen Impact, a major challenge faced by borrowers in emerging markets," it added.
Grameen Impact will use the financing to give loans to high impact social enterprises in India in sectors including financial services, affordable healthcare, affordable education, renewable energy and sustainable agriculture.
"By supporting lending to high-impact businesses in local currency, this project will help businesses in India overcome one of the main challenges to obtaining financing," said Ray W Washburne, OPIC President and CEO.
"India has rapidly become a global leader in impact investing, with over USD 5 billion of investments in this space.
"However, the bulk of this is equity; even today social enterprises struggle to raise debt financing, which is critical for scale... IndusInd Bank is furthering our commitment to build a 'capital-with-a-conscience' ecosystem," said Royston Braganza, CEO of Grameen Impact Investments.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)