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SBI to cease to be EPFO fund manager by March end

05 Dec 2018 Evaluate

State Bank of India (SBI) will cease to be a fund manager of retirement fund body EPFO by March-end, as a bank cannot function as an asset management company under the Reserve Bank of India (RBI) norms.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

Peers
Company Name CMP
State Bank Of India 980.00
PNB 123.90
Bank Of Baroda 241.50
Canara Bank 119.75
Union Bank Of India 186.15
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