SMFG India Credit (SMICC) on March 25 said it has raised $175 million through External Commercial Borrowings (ECB) from Standard Chartered Bank (SCB) and CTBC Bank.

The company will use these funds for lending purposes, reinforcing the company’s commitment to expanding its lending portfolio and supporting customers across various segments, company said in a release.

“With this funding, we aim to strengthen our lending capabilities, ensuring greater access to credit for individuals and businesses while maintaining a prudent risk management framework,” Pankaj Malik, Chief Financial Officer, SMFG India Credit was quoted saying in a release.

SMFG India Credit has fully hedged the facility to mitigate risks associated with foreign exchange and interest rate fluctuations, the release said.