State Bank of India (SBI) and Spain’s CaixaBank have inked pact to provide loans to Indo-Spanish joint ventures and local enterprises. Both have signed the Mou to enhance business synergies. The banks also cooperate through an introduction of business opportunities and partnering on possible infrastructure funds. The agreement was signed by CaixaBank’s Executive Vice-President, International Banking, Victoria Matia and SBI’s Chief General Manager Sujit Kumar Varma.
Under this JV, the banks will collaborate in areas of mutual interest such as syndicated loan business, guarantee transactions, trade finance and export credit agency finance, infrastructure finance and networking services, among others. Besides, Both bank’s clients will be able to use the vast combined network to expand their businesses abroad and through this agreement, both SBI and CaixaBank will gain direct access to their respective markets of operation. The CaixaBank had established its representative office in New Delhi in 2011 and offers business counseling and helps Spanish companies to develop their business in the South Asian region and Indian companies with an interest in Spain.
So let’s discuss some questions related to this post :
1. Name the banks which have signed inked pact to fund Indo-Spanish joint ventures?
2. Where is the representative office of CaixaBank in India?
Courtesy: Business Standard