SBI may mobilise Rs 1,000 crore for General Insurance (Business Standard India)
Published: March 14th, 2010
State Bank of India (SBI), the largest public sector bank of the country, plans to invest Rs 500 crore-Rs 1,000 crore in the general insurance business in synergy with Insurance Australia Group. The Chairman of the bank, O P Bhatt, said that SBI would keep the 74 per cent stake while 24 per cent would be kept with the private partner. The entity would be named as the SBI General Insurance.
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