Sumitomo Mitsui raises $170 million from offshore investor for Indian NBFC arm

Shantanu Mitra, CEO & Managing Director, SMFG India Credit

Japanese conglomerate Sumitomo Mitsui Financial Group has raised around $170 million, or Rs 1,425 crore, from an offshore investor for its local subsidiary SMFG India Credit. The Mumbai-based non-bank lender, formerly known as Fullerton India Credit, provides loans to small and medium-sized businesses for working capital and growth.

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