State Bank Of India

In a bid to help fund companies from the East Asian nation setting up units in India, State Bank of India (SBI) has received $500 million loan from Korean EXIM Bank. This Line of Credit will help SBI arrange long term foreign currency funds to finance Korean Companies setting up manufacturing unit.

The country’s largest lender has also opened its first branch in South Korea. The Seoul branch is expected to play an important role in strengthening economic partnership between the two nations.