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SBI, CaixaBank ink pact to fund Indo-Spanish joint ventures

SBI, CaixaBank ink pact to fund Indo-Spanish joint ventures
10 June 2016 Current Affairs: State Bank of India (SBI) and Spain's CaixaBank have inked pact to provide loans to Indo-Spanish joint ventures and local enterprises.

SBI and CaixaBank have signed a memorandum of agreement to enhance business synergies.

According to the agreement, they will expand banks' guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local enterprises.

The agreement was signed by Caixa Bank's Executive Vice-President, International Banking, Victoria Matia and SBI's Chief General Manager Sujit Kumar Varma.

The banks will collaborate in areas of mutual interest such as syndicated loan business, guarantee transactions, trade finance and export credit agency finance, infrastructure finance and networking services, among others.

Through this agreement, both SBI and CaixaBank will gain direct access to their respective markets of operation.

Both banks' clients will be able to use the vast combined network to expand their businesses abroad.This agreement with India's leading financial institution Will help facilitate the growth of Spanish companies operating in this market.

India is increasingly making its global presence felt across various landscapes. Partnering with an organisation like SBI is strategically important to us, and we look forward to contributing to SBI's growth through our market expertise and established relationships.

CaixaBank had established its representative office in New Delhi in 2011.


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
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24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
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September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
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26 SEP
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24 SEP
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August 2016 Current affairs
31 AUG
NEWS
30 AUG
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29 AUG
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27 AUG
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26 AUG
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25 AUG
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