SBI can provide acquisition financing support of up to ₹94,000 crore to India Inc, says Chairman Setty

State Bank of India (SBI) can provide acquisition financing support of up to ₹94,000 crore to India Inc, going by the Reserve Bank of India’s Amendment Directions for Commercial Banks on Credit Facilities, according to Chairman Challa Sreenivasulu Setty.As per the directions, banks can provide acquisition financing to Indian companies, listed as well as unlisted, of up to 20 per cent of their tier-1 capital. Total bank financing cannot exceed 75 per cent of the acquisition value.Speaking to reporters on the ...