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IndusInd Bank said it has raised USD 500 million (about Rs 3,193.75 crore) term loan from overseas lending bodies to expand its business.

The private sector bank has concluded the syndicated term loan facility from a group of overseas investors, it said in a regulatory filing.

The fundraising, along with the funds raised during the ongoing financial year from multilateral institutions ADB and OPIC, will help the bank expand its lending to clients, it said.

The tenor of the loan is for three years and will be used for general banking purposes, it added.

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