Home » SBI inks USD 1 billion loan...

SBI inks USD 1 billion loan agreement with Japan Bank

Sumit Arora Published On April 1st, 2021 Leave a comment

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:

SBI Chairperson: Dinesh Kumar Khara.
SBI Headquarters: Mumbai.
SBI Founded: 1 July 1955.

Find More Banking News Here

About the Author

Sumit Arora

Author

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.