New Delhi, Oct 29 (TIWN) Country's largest commercial bank, State Bank of India (SBI) has signed a loan agreement amounting to up to $1 billion with the Japan Bank for International Cooperation (JBIC).

Out of total amount, $600 million will be financed by the JBIC and $400 million by other participating banks. JBIC will provide a guarantee for the portion co-financed by the participating banks.  The loan is intended to promote smooth flow of funds for the whole range of business operations of Japanese automobile manufacturers in India.