SBI raises 500 million USD through IFSC Gift City

Current Context: SBI, one of the promising DSIBs and the largest lender in the country, has raised 500 million USD in a bid to expand her business.

• State Bank of India has raised the first offshore USD-linked secured overnight financing rate-linked syndicate loan.
• It shows the reputation enjoyed by the largest lender in the credit market abroad. SBI is one of the four Domestic Systematically Important Banks (DSIB). A DSIB is one that has a total capital of 2% of India's GDP. Such banks are prone to more regulations as they are the drivers of economic socialism.
• Despite growing turbulence in the global market, SBI has achieved this feat by showing her resilience and rapport in the market. Of the 500 million USD 100 million has been raised as a greenshoe operation.

Question:

Q.1 Which bank has raised the first offshore USD-linked loan through IFSC?
a. SBI
b. HDFC
c. YES Bank
d. ICICI