Which bank from India has obtained $500 million through its IFSC Gift City branch?
  • HDFC Bank
  • Axis Bank
  • State Bank of India
  • ICICI Bank
Answer- C
SBI, the biggest commercial bank in India, has secured a syndicated loan of $500 million for a period of three years through its branch at the International Financial Services Centre (IFSC) Gujarat International Finance Tec (GIFT) City.

The loan has a base size of $400 million, with an additional $100 million greenshoe option. The pricing details have not been disclosed by SBI.

This marks the first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan raised by SBI's Gift City branch.