MoneyWorks4Me

SBI’s arm gets in-principle approval to set up wholly owned subsidiary

30 Aug 2023 Evaluate

State Bank of India’s competent authority has accorded in-principle approval on August 29, 2023, to set up a wholly owned subsidiary by SBI Funds Management (Subsidiary company) at IFSC Gift City Gandhinagar subject to receipt of all regulatory approvals. 

State Bank of India (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 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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