Holi Offer - Use Code HOLI24

Register Now

Vedanta Partnered with Union Bank of India

Published on February 03, 2022
Current Context: Vedanta has partnered with the Union Bank of India.
Vedanta Partnered with Union Bank of India
  • They have partnered with a facility of Rs 8000 crore at 7.75% to take over the majority of the syndicated facility.
  • In 2020, Vedanta Ltd had tied up a syndicated facility of Rs 10,000 crore with the State Bank of India as the lead bank at a running cost of 10.5%.
  • But after various discussions with leaders, Vedanta tied up a facility of Rs 8,000 crore which is the replacement facility with Union Bank to take over the majority of the Syndicated Facility.
  • Static Part: 
    • Syndicated Facility: It is the loan granted by a number of lenders to a borrower under common norms
    • HQ of Union Bank of India: Mumbai
    • Tagline of Union Bank of India: Good people to bank with

Question: 

Q.1 Vedanta tied up with Rs 8000 crore facility with _____ to take over the majority of Syndicated facility?
a. South Indian Bank
b. Bank of Baroda
c. Union Bank of India
d. Canara Bank
ebook store

About us

ramandeep singh

Ramandeep Singh is a seasoned educator and banking exam expert at BankExamsToday. With a passion for simplifying complex concepts, he has been instrumental in helping numerous aspirants achieve their banking career goals. His expertise and dedication make him a trusted guide in the journey to banking success.

  • Follow me:
Close Menu
Close Menu