Applicability of transfer pricing on SBLC issued to 100 foreign sunsidiary company

My indian company request to Indian HDFC bank to issue SBLC of 25 Cr.to Dubai HDFC Bank for Loan funding to our 100%subsidiary Bank

it is requested
is this transaction will come under transfer pricing under safe harbour rule
and is taxable as an income of indian company by calculating arm length price of 2%Of amount of SBLC p.a