SBI Signs 70 Million Euro LoC with KfW for Solar Projects
By Rediff Money Desk, NEWDELHI Dec 13, 2023 19:57
State Bank of India (SBI) will sign a 70 million euro LoC with KfW to promote solar projects in India. The agreement will be signed on December 14 in Ahmedabad.
![SBI Signs 70 Million Euro LoC with KfW for Solar Projects](https://im.rediff.com/money/2015/may/22solar.jpg)
New Delhi, Dec 13 (PTI) State Bank of India (SBI) on Wednesday said it will sign 70 million euro (about Rs 630 crore) Line of Credit (LoC) with German Development Bank KfW for promoting solar project in the country.
The agreement will be signed on December 14 at the bank's IFSC Gift City Branch in Ahmedabad, SBI said in a regulatory filing.
The LoC is aimed at supporting Solar Photovoltaics (PV) projects in India, it said.
The country's largest lender SBI reported a 9.13 per cent growth in consolidated net profit for the September quarter to Rs 16,099.58 crore as against Rs 14,752 crore in the year-ago period.
On a standalone basis, it posted a net profit of Rs 14,330.02 crore as against Rs 13,264.52 crore in the year-ago period.
The bank reported a total income of over Rs 1.12 lakh crore for the quarter under review, up from Rs 88,733 crore in the year-ago period.
The agreement will be signed on December 14 at the bank's IFSC Gift City Branch in Ahmedabad, SBI said in a regulatory filing.
The LoC is aimed at supporting Solar Photovoltaics (PV) projects in India, it said.
The country's largest lender SBI reported a 9.13 per cent growth in consolidated net profit for the September quarter to Rs 16,099.58 crore as against Rs 14,752 crore in the year-ago period.
On a standalone basis, it posted a net profit of Rs 14,330.02 crore as against Rs 13,264.52 crore in the year-ago period.
The bank reported a total income of over Rs 1.12 lakh crore for the quarter under review, up from Rs 88,733 crore in the year-ago period.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...