State Bank Of India

State Bank of India (SBI), country’s largest public sector lender has sanctioned loan of Rs 2,650 crore to Rashtriya Ispat Nigam (RINL) for expansion project of its plant. The bank has done partial disbursement of Rs 500 crore to RINL. The lender already has cordial and favorable business relations with RINL for many years.

The bank has reported 4.08% rise in its net profit at Rs 3396.06 crore for third quarter ended December 31, 2012 as compared to Rs 3263.04 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 14.11% at Rs 33992.11 crore for quarter under review as compared to Rs 29787.37 crore for the quarter ended December 31, 2011.