RBL Debt I (IFC-41811)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 31, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
RBL Bank Limited
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 11, 2019

Disclosed by Bank Jul 9, 2019


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Project Description

According to bank documents, "the proposed project envisages a senior loan of US$150 million to RBL Bank (“RBL” or the “Bank”). The proceeds of the proposed project will be utilized in the following manner (i) US$100mn to support the expansion of RBL’s micro, small and medium enterprises (MSME) and individual business loans(<$100k) portfolio in the Low-Income States (LIS) of India and (ii) US$50mn earmarked to fund climate smart projects. RBL is a mid-sized old private sector bank in India that was established in 1943. It was granted the status of a scheduled commercial bank in 1959. It currently services over 5.82mn customers through a network of 288 Branches, 221 Banking Outlets and 390 ATMs spread across 19 Indian states and Union Territories."

The environmental and social risk of the proposed investment is medium, and the project is categorized as FI-2.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

RBL Bank
Jaideep Iyer
Head - Strategy
+91 22 4302 0842
Jaideep.Iyer@rblbank.com
One Indiabulls Centre, Tower 2B, 6th Floor, 841, Senapati Bapat Marg, Lower Parel, Mumbai – 400013

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/