India, March 13 -- Satin Creditcare Network Limited (SCNL), a leading microfinance institution in India, has successfully raised its first syndicated social term loan of $100 million through External Commercial Borrowing (ECB) under the Reserve Bank of India's (RBI) automatic route.
The funding was exclusively arranged by Standard Chartered Bank, which also participated through its Gift City branch. Additionally, six prominent Sri Lankan banks—Hatton National Bank, National Development Bank, Seylan Bank, Pan Asia Banking Corporation, Commercial Bank of Ceylon, and DFCC Bank—contributed to the loan.
The agreement, signed in February 2025, includes a total commitment of $100 million, with a greenshoe option of $25 million. The f...