IndusInd Bank gets $ 50 mln credit line from Wachovia Bank

New Delhi, June 25 (UNI) IndusInd Bank, today said it has successfully negotiated a line of credit of 50 million dollars from the US-based Wachovia Bank.

''The funds under this credit line will be utilised for providing trade related financing to our clients. The arrangement also cuts the lead time for funds availability generally associated with loan syndications,'' said IndusInd Bank - Head Wholesale Banking Group - Executive Vice President Moses Harding, in a statement.

Wachovia Bank Managing Director and Regional Manager Thomas Kirker said, ''Wachovia is most pleased to be able to partner with IndusInd and make this facility possible. It is a reflection of our long standing relationship with IndusInd, and commitment to the Indian Market.'' UNI