State Bank of India will back coal projects in Australia
Australia currently provides about $11 billion in coal every year to India which is equivalent to about 4 per cent of the country's overall coal imports.
India's largest bank – State Bank of India – says it is open to lending to new coal mining projects in Australia because the country's energy needs depend on increasing coal supply.
Managing director of thebank's international banking division Dinesh Khara was asked by a media delegation in Mumbai as to whether the bank would finance new coal projects in Australia.
