-Banks form strategic alliance in India.
Global Banking News - 11 June 2012
India-based ICICI Bank (NSE: ICICIBANK), Yes Bank (YESBANK.NS) and Malaysian Exim Bank have formed a strategic alliance.
As per the deal signed by the three entities, Exim Bank will provide approximately USD100m in credit lines to the two Indian banks to help them import goods from the South-East Asian nation.
Exim Bank will offer facilities such as credit refinancing, buyers credit financing, import collection and/or open account transaction financing for Malaysia-based trade transactions.
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