SBI seeks largest dollar-denominated loan of 2024 worth USD 1.25 bn: Report
The loan is being raised for general corporate purposes through its branch at the Gujarat International Finance Tec-City, the report said.
The country’s largest lender State Bank of India (SBI) on Monday clarified that its Hong Kong branch did not have any exposure to the companies of multi-crore-rupee Punjab National Bank (PNB) fraud main accused Nirav Modi or Mehul Choksi.
“We refer to the news dated 18 February 2018 and 19 February 2018 reported by some sections of media and advise that SBI Hong Kong Branch does not have any exposure against any corporates/banks based upon LOUs/LCs issued by PNB, Brady House Branch,” the bank said in a statement.
“Further, SBI Hong Kong Branch does not have any exposure to the Nirav Modi Group of companies and/or Mehul Choksi group of companies whose names are linked to the PNB fraud,” it added.
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