Ratnakar Bank, an Indian commercial banking institution, has raised INR3.24 billion (approximately US$60 million) from a consortium of investors.  International Finance Corporation, the private sector development arm of the World Bank Group, and investment firms Aditya Birla Private Equity, Faering Capital, ICICI Investment Management, IDFC Alternatives and Ascent Capital all participated in the current round. Ratnakar had previously raised capital from a consortium of private equity firms and institutional investors in 2011.