State Bank of India (SBI) and the European Investment Bank (EIB) signed a loan agreement for Euro 100 million to be utilised for on-lending to private businesses in the country.

This is 3rd tranche of a total loan out of total sanction of EUR 200 million by EIB. A first tranche of Euro 55 and second tranche of Euro 45 million was signed on Jun. 25, 2014 and Nov. 28, 2014 respectively.
 
The loan will be utilised to support the development of private sector, in particular small and medium-sized enterprises (SMEs), social and economic infrastructure as well as climate change mitigation and adaptation in India. The EIB funds will be earmarked for financing projects across a broad range of sectors, including manufacturing, as well as wholesale and retail trade and services.

Shares of SBI gained Rs 3, or 0.92%, to settle at Rs 327.40. The total volume of shares traded was 1,747,746 at the BSE (Friday).