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SBFC Finance taps offshore investor to raise capital

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SBFC Finance Ltd, a non-bank lender focusing on micro, small, and medium-sized enterprises (MSMEs), is raising Rs 400 crore ($46 million) from British International Investment to expand its operations. The funding will provide loans to low-income MSMEs and women borrowers, with proceeds split evenly between both groups. The Mumbai-based lender, operating across 197 branches in India, aims to support about 5,000 customers to enhance economic opportunities and income levels through this initiative.