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Tatas find a good samaritan in SBI

MUMBAI: While the U.S. sub-prime mortgage crisis has forced top foreign banks to tighten their purse strings, State Bank of India is playing the good samaritan for Tata Steel by approving a big ticket loan to it. India’s largest lender reportedly has agreed to offer a loan of $800 million to $1 billion to Tata Steel UK, a special purpose vehicle (SPV) created to fund Corus acquisition.

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