By Pallavi S

SBI joins a growing list of financial firms planning or setting up large infrastructure funds for India.

State Bank of India, the country's biggest lender, has entered into an agreement with the state government of Gujarat to create a Rs 5,000 crore ($1 billion ) fund for investing in infrastructure projects. "We have signed an MoU with the Gujarat government to create a fund of Rs 5,000 crore to invest in equity of infrastructure project in the state," SBI Chairman O P Bhatt has been quoted as saying by PTI.

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Posted by boyang at January 13, 2009 7:05 AM