Credit Suisse injects $164 mln into India unit

Swiss bank Credit Suisse said it has injected about $164 million of capital to fund the operation of its wholly owned Indian non-banking finance subsidiary.

Swiss bank Credit Suisse said on Tuesday it has injected about $164 million of capital to fund the operation of its wholly owned Indian non-banking finance subsidiary.

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With the funds, the total capital of Credit Suisse Finance (India) Private Ltd had risen to 8.27 billion rupees or approximately $170 million, it said in a statement.

The finance unit will provide asset-backed financing, securities-backed financing and lending for initial public offerings to corporate and individual users, it said.