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Which bank has tied up with Japan Bank for International Cooperation (JBIC) to raise USD 1 billion untied loan?
A)
Indian Bank
B)
Union Bank of India
C)
State Bank of India
D)
Punjab National Bank

Correct Answer :   State Bank of India


State Bank of India (SBI) signed a loan agreement amounting to up to USD 1 billion with the Japan Bank for International Cooperation (JBIC).
As a part of the agreement, USD 600 million will be financed by JBIC and USD 400 million by other participating banks. It is expected to promote smooth flow of funds to the business operations of Japanese automobile manufacturers in India.

Published On : July 19, 2021
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