State Bank of India has sought $1.25 billion in India's biggest bank loan in 2024

Current Context: The State Bank of India (SBI) has sought a significant loan of $1.25 billion in 2024, marking it as the largest dollar-denominated bank loan for an Indian bank this year.

• Key Details:
• Purpose: The loan is intended for general corporate purposes, which means it will help support various financial needs and operations of the bank.
• Arrangers: The loan is being arranged by three major financial institutions: CTBC Bank, HSBC Holdings, and Taipei Fubon Bank.
• Tenure: The loan has a term of five years, providing a substantial period for SBI to utilize and repay the funds.
• Usage Location: A significant portion of the funds will be directed towards operations at SBI’s branch in Gujarat International Finance Tec-City (GIFT City), a hub designed to attract international business and investment.

Question:

1 What is the total value of the loan sought by the State Bank of India (SBI) in 2024?

• A) $750 million
• B) $1 billion
• C) $1.25 billion
• D) $1.5 billion

Answer: C) SBI has sought a significant $1.25 billion loan, making it the largest dollar-denominated loan for an Indian bank in 2024.