Loading...
Testwale Logo

FAQ

How long will it take for my account to be activated once the payment is made?

Once the payment is made, your account will be activated right away.

Pages are not loading properly.

Try checking your internet connection or restart your phone. If the problem still persists, take a screenshot and send us at [email protected], we will look into it.

How can I reset my password?

For the users registered with their mobile number, follow the following steps for resetting your password: 1. You need to enter your mobile number on the log-in page. 2. Click "Forget Password", to get an OTP on your registered number. 3. Using the OTP received on your number, you can now reset your password.

Pages are not loading properly.

Try checking your internet connection or restart your phone. If the problem still persists, take a screenshot and send us at [email protected], we will look into it.

How can I change the language of the article and quizzes?

We have a "Change Language" option in Test Series and Daily Quizzes. If you want the content (test and quiz) in Hindi/English language, go to Settings -> Change Language, to change your default language from Hindi to English or Vice-Versa.

I am unable to make payment for the pass.

In case of failure of a transaction before the amount deduction, we advise the student to try making the payment again. In case of transaction failure after amount deduction either access to the purchased product will be provided within few hours or we request the student to wait for 3 to 4 working days. The money will be credited back to his/her account.

I have made the payment but the tests are not unlocked.

Although rare, if so: You can directly mail us at [email protected] and we will resolve your issue.

What are all the payment methods allowed to buy a plan?

You can pay using: Credit Card/ Debit Card or Through: UPI and Netbanking.

What happens if I get disconnected during a test?

Don't worry! We auto-pause your test so, you can resume the test where you left. The test can also be manually paused by clicking on the "Pause" icon on the top left corner inside the timer circle. Please note: This function is not available in a Live Test.

What are the benefits of the subscription?

Here you will get access to test series and quizzes by top Educators. This will evaluate your learning and measure your progress.

  • Home
  • Current Affairs
  • DAILY CURRENT AFFAIRS:SBI raises $500 million loan through its IFSC Gift City Branch

SBI raises $500 million loan through its IFSC Gift City Branch

Tags: Economy/Finance

India’s largest bank State Bank of India (SBI) has raised $500 million (over ₹3,800 crore)  loan through its IFSC Gift City branch.This is the first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan raised by SBI through its Gift City branch.

Concept Clearing 

Syndicated  Loan

Loans provided by a group of banks or non-banking financial companies   to a single borrower are called syndicated loans . This happens when the loan amount required by the borrower is too big for a single borrower to provide.

 Secured Overnight Financing Rate

The Secured Overnight Financing Rate (SOFR) is a benchmark rate which is used by banks and financial institutions to  determine the interest rates on the loans they provide to the consumers and companies . It is used in the United States,

Here overnight means the rate at which large financial institutions borrow  for overnight or  24 hours  .

Offshore borrowing 

Offshore means outside the country . So any loan raised outside India will be called offshore loans .

IFSC (Indian Financial Service Center )

India’s only IFSC is situated in the Gujarat International Financial Tec(GIFT) City in the GIFT Special Economic Zone(SEZ) in Gandhinagar, Gujarat.

SEZ is considered to be  legally a  foreign territory for trade purposes in India .  So the branch of SBI in IFSC  will be treated by the Reserve Bank of India as a foreign or offshore branch of SBI. 

Hence any borrowing done by the SBI branch in the IFSC will be treated as an offshore borrowing.

Because it was an offshore borrowing ,hence it was denominated in US Dollars and benchmarked to the Secured Overnight Financing Rate.

Please Rate this article, so that we can improve the quality for you -

Search By Tags

Committee Festivals of India Russia-Ukraine Sports National Economy/Finance International Relations Government Schemes Popular Defence Books and Authors Science and Technology Summits Economics/Business Awards Person in news State News Important Days Sports News International News National News
serablock login_ch-testwale