State Bank Of India

State Bank of India (SBI), the country’s largest lender, has received all necessary approvals to buy residential properties of cash-starved national carrier Air India in south Mumbai for Rs 90 crore.

The bank has got all the required approvals and it has conveyed its willingness to buy the properties from Air India. The bank is planning to allocate these flats to its top executives of the rank of Deputy Managing Directors and General Managers.

State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2013, it had assets of $388 billion and 17,000 branches, including 190 foreign offices, making it the largest banking and financial services company in India by assets.