State Bank Of India

State Bank of India (SBI) has signed an agreement with Japan Bank for International Cooperation (JBIC) for a loan worth $1 billion (around Rs 7,403 crore). Of the total loan amount, $600 million will be financed by JBIC and $400 million by other participating banks - SMBC, MUFG Bank, Mizuho Bank, Shizuoka Bank and Bank of Yokahama. JBIC will provide a guarantee for the portion co-financed by the participating banks. The loan is intended to promote smooth flow of funds for the whole range of business operations of Japanese automobile manufacturers in India.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.