The funds thus raised, will be used by IndusInd Bank to foster the growth of Japanese construction equipment companies in India through needbased credit facilities to the upstream and downstream companies. Mizuho Bank, Japan, the Shizuoka Bank, Singapore and the Joyo Bank, Japan will also co-finance in this facility.

Under this initiative, IndusInd Bank will provide credit facilities to companies that comprise the supply chain of the Japanese original equipment manufacturers (OEMs) in India.

Currently, the program will cover the component suppliers and dealers of the selected Japanese OEMs, as well as the final buyers of the construction machinery manufactured by those companies.