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Northern Arc raises $10 mn in ECB from Calvert Impact Capital


Northern Arc raises $10 mn in ECB from Calvert Impact Capital
March 11, 2021
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Northern Arc Capital, a non-banking finance company (NBFC) that provides access to debt capital for under-banked individuals and businesses, announced that it has raised $10 million in debt through external commercial borrowing (ECB) from US-based impact investor Calvert Impact Capital.
The funding is Calvert Impact Capital’s largest debt investment in India so far.
In a press release, Northern Arc said that it will deploy the funds towards on-lending to financial institutions as well as lending directly to retail customers and to mid-market corporates.
“Underbanked customers, including low-income households and small businesses, to whom credit has dried up over the last few months due to the pandemic, will be key beneficiaries of the proceeds,” the NBFC added. ....

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How much tax do you pay on debt investments?

Equity investments tend to give higher returns than all other asset classes over the long run, but they are also riskier Here s a look at the tax rules that apply to some debt-related investment products ....

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