RIL raises $1 billion loan from various banks
Moneylife Digital Team 26 August 2010

New Delhi: The country's most valued firm Reliance Industries (RIL) has raised a loan worth $1 billion (about Rs4,700 crore) from various banks, reports PTI.

According to market sources, Mukesh Ambani-led Reliance Industries has raised term loans worth $1 billion from as many as 31 banks.

However, it could not be ascertained for what purposes the loan would be utilised by the company.

When contacted, a Reliance Industries spokesperson declined to comment.

The banks that were involved in arranging the loan include Barclays Plc, Citigroup Inc, DBS Group Holdings and Standard Chartered Plc.

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