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State Bank Of India
BSE: 500112 | NSE: SBIN
Large Cap | Bank - Public
1017.15
-60.40 (-5.61%) SBI gets nod to raise stake in cards biz
Date: 16-03-2017State Bank of India (SBI) has received approval from executive committee of its central board for raising stake in credit card joint venture companies - SBI Cards and Payment Services and GE Capital Business Process Management Services to 74% each by infusing additional capital of Rs 1,160 crore.
The bank, however, did not give a break-up of the amounts it is paying to increase its shareholding in SBI Cards & Payment Services and GE Capital Business Process Management Services. Currently, SBI holds 60% stake in SBI Cards and 40% stake in GE Capital Business.