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    Question

    Which public sector bank has launched โ€œForeign

    Currency Loan against INR Deposits of Indian Companies for their Overseas Subsidiaries/Joint Venturesโ€ at its branch in Gujarat International Finance Tec-City (GIFT City)?
    A Bank of India Correct Answer Incorrect Answer
    B Central Bank of India Correct Answer Incorrect Answer
    C Bank of Baroda Correct Answer Incorrect Answer
    D State Bank of India Correct Answer Incorrect Answer
    E Punjab National Bank Correct Answer Incorrect Answer

    Solution

    Bank of Baroda has launched โ€œForeign Currency Loan against INR Deposits of Indian Companies for their Overseas Subsidiaries/Joint Venturesโ€ at its branch in Gujarat International Finance Tec-City (GIFT City). Under the new loan scheme, financial support to Overseas Subsidiaries/Joint Ventures of Indian corporates by leveraging their INR deposits, helping Indian companies meet the cash flow requirements for their international operations will be provided.

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