Srei Equipment Finance and this bank jointly collabrated to provide equipment financing under co-lending arrangement.

2019

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	IDBI Bank
B	Yes Bank
C	Axis Bank
D	Syndicate Bank

Explanation:

Detailed explanation-1: -Among the financial creditors, Canara Bank, StateBank of India and Punjab National Bank have large exposures to the Srei twins. Other lenders are Punjab & Sind Bank, Axis Bank, HDFC Bank, Union Bank of India, IDBI Bank, UCO Bank and Indian Overseas Bank.

Detailed explanation-2: -Brickwork Ratings (BWR) downgrades its ratings on SREI Equipment Finance Ltd’s (SEFL’s) non-convertible debentures (NCD), innovative perpetual debt instruments (IPDI) and commercial paper (CP) to ‘BWR D’ from ‘BWR BBB/BB/A3’/credit watch with negative implications, respectively, as tabulated above.

Detailed explanation-3: -Srei started operations in 1989. For over 30 years, Srei had successfully offered solutions to its customers in Asset Finance & Leasing in the infrastructure sector. It was the most significant player in its segment.

There is 1 question to complete.