State Bank Of India

State Bank of India (SBI) has received an approval for divestment of 86,20,000 equity shares constituting 4% stake in SBI General Insurance Company at a total consideration of Rs 481.73 crore to Axis New Opportunities AIF-I (Axis AMC) and PI Opportunities Fund-I (Premji) subject to all regulatory approvals. The Executive Committee of Central Board (ECCB) in its meeting held on September 26, 2018, approved the same.

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.