IndusInd Bank, a private-sector bank in India promoted by the UK-based Hindujas, will launch a $1 billion fund for deployment in the country's infrastructure sector besides its foray into semi-urban and rural areas.
S P Hinduja, chairman of Hinduja Group, now on a visit to Dubai to attend the meeting of the shareholders of the bank, told PTI that the $1 billion fund would be marketed among non-resident Indians all over the world and will be targeted at infrastructure projects in India.
"We are expanding globally and will focus on the NRIs. We are planning to enter special areas of finance," he said.
About the bank's entry into semi-urban and rural areas, he said, "We will offer financial services in those areas," adding the bank will expand its presence in the retail sector as well.
He also said the bank will soon announce a joint venture for wealth management.