India’s largest lender, State Bank of India, has raised $1 billion from Japan Bank for International Cooperation (JBIC) to extend loans to the supply chain of the Japanese automobile industry in India. The loan is in the form of refinancing against the funding support provided to the manufacturers, suppliers and dealers of Japanese automobiles in India.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
This collaboration between SBI and JBIC will help the bank in extending loan facility to the entire supply chain at a time when people are preferring a personal mode of transport. Now the total loan facility between SBI and JBIC has become $2 billion. Earlier in October 2020, SBI inked a similar agreement for $1 billion with JBIC.
Important takeaways for all competitive exams:
National News Bharat Taxi Launched in Gujarat: Amit Shah Unveils Cooperative Ride Platform Union Home…
Preparing for SBI PO, SBI Clerk, IBPS PO, IBPS Clerk, RBI Grade B, RBI Assistant,…
The Union Home and Cooperation Minister launched the pilot project of the PM Family Care…
Kotak Mahindra Bank has announced that its Managing Director (MD) and Chief Executive Officer (CEO)…
Ancy Sojan, who is a rising long jumper from Kerala has rewritten the history books…
After several months of escalating violence between Israel and Lebanon, the United States has brokered…