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SBI raises $1bn JBIC loan to finance Japanese auto entities in India
TIWN
SBI raises $1bn JBIC loan to finance Japanese auto entities in India
PHOTO : TIWN

New Delhi, Oct 29 (TIWN) Country's largest commercial bank, State Bank of India (SBI) has signed a loan agreement amounting to up to $1 billion with the Japan Bank for International Cooperation (JBIC).

Out of total amount, $600 million will be financed by the JBIC and $400 million by other participating banks. JBIC will provide a guarantee for the portion co-financed by the participating banks.  The loan is intended to promote smooth flow of funds for the whole range of business operations of Japanese automobile manufacturers in India.

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