2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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State Bank of India
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Central Bank of India
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Union Bank of India
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Canara Bank
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Detailed explanation-1: -Iran supplied about 458, 000 barrels per day (bpd), or about a 10th of India’s more than 4.5 million bpd of imports, in the fiscal year to March 2018. SBI has written to the Indian refiners and the government that it would not be able to handle oil payments to Iran from Nov 4, an official at SBI said.
Detailed explanation-2: -New Delhi: India will import crude oil from Iran using a rupee-based payment mechanism, an industry person involved in discussions told Reuters on Thursday, adding that 50% of those payments will be used for exporting items to Tehran.
Detailed explanation-3: -’We are exporting 350 thousand barrel oil per day to India. India has an unpaid debt to Iran with the amount of $6 billion, since the start of economic sanctions imposed on Iran, ’ Zanganeh said. He added Iran signed an exploration and marketing agreement with India to cooperate in the Ferzad-B field.
Detailed explanation-4: -Major Indian exports to Iran include rice, tea, sugar, fresh fruits, drugs/pharmaceuticals, soft drinks, industrial machinery, boneless bovine meat etc.