State Bank Of India

State Bank of India (SBI) has received an approval for dilution of its stake in its life insurance arm ‘SBI Life Insurance’ through an initial public offer (IPO) for which it has already secured IRDA approval. The executive committee of the central board (ECCB) of the bank at a meeting held on July 10, 2017 has approved for the same. Once it hits the markets, SBI Life Insurance would become the second insurer after ICICI Prudential Life to go public.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.