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Mumbai, Jan 28 The BNP Paribas Group has injected around Rs 570 crore (€500 million) in its Indian operations in the recently concluded quarter.

With this latest equity infusion, the capital base of the bank will be enhanced to Rs 1,600 crore, said a press release from the group.

This is in addition to the group’s investment in various joint ventures in the country over the last three years.

The press release quoting Mr Frederic Amoudru, Chief Executive and Country Head of BNP Paribas India, said, “With this enhanced capital base we will be able to offer enhanced credit limits to our clients for borrowing in local currency which is critical in views of the curbs that the RBI has imposed on External Commercial Borrowings. It will also enable us to become more active in local currency Project Financing, an area we had avoided so far for lack of a sufficient local capital base”.

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