Which Indian lender is the first to execute deals with pricing linked to SOFR Secured Overnight Fina...........

Static GK (Master) Banking Awareness

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Which Indian lender is the first to execute deals with pricing linked to SOFR (Secured Overnight Financing Rate)?

ICICI Bank

SBI

Axis Bank

Yes Bank

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Explanation:

SBI

State Bank of India (SBI) has recently executed two inter-bank money market deals with pricing linked to SOFR (Secured Overnight Financing Rate).
SOFR is a replacement for London Inter-bank Offered Rate (LIBOR), which is global reference rate for unsecured short-term borrowing in the interbank market.