DBS Bank s IFSC banking unit in Gujarat International Finance Tec-City (GIFT City) said in a statement that it led the syndicated loan. The funds will be used for growing the retail education loan franchise, it said.
DBS Bank s Radhika Rao discusses the RBI Monetary Policy with ET Now, emphasizing the central bank s focus on inflation risks, growth, investment strength, and positive consumption expectations amidst cautious policy adjustments for the future economic landscape. Rao says: I would think rate cut is a late 2024 story, I am talking about CY2024, rather than being in a rush to either pre-empt the global central banks or the other regional peers."
The company has the flexibility to price the loan 120 basis points above the one-month, three-month or six-month Secured Overnight Financing Rate (SOFR), in line with the market movement. The loan is part of the company s regular borrowing programme. One basis point is 0.01 percentage point.