Hot Pursuit     22-Dec-23
SBI to ink $165 million line of credit from World Bank
The largest PSU bank announced that it will sign an agreement with World Bank for obtaining a line of credit of $165 million.

The said funds would be used for supporting grid connected rooftop solar photovoltaic (PV) projects in Residential & Institutional sectors, on 22nd December 2023 at Delhi.

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 31 September 2023, the Government of India held 57.49% stake in the bank.

The PSU bank’s standalone net profit increased 8.03% to Rs 14,330.02 crore in Q2 FY24 on 26.41% jump in total income to Rs 1,12,169.43 crore in Q2 FY24 over Q2 FY23.

The scrip were higher 0.79% to Rs 649 on the BSE.

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