SBI Shortlists 3 Cos For General Insurance Alliance

KOLKATA: State Bank of India (SBI), the country's biggest lender, has shortlisted three foreign partners for its proposed entered in the general insurance venture. There was a possibility that the general insurance company will be formed in the current fiscal. SBI would form a holding company for SBI Life and SBI Mutual Fund shortly. Strategic investors might also be given a part of the stake in the holding company. SBI would require Rs 15,000 crore to sustain business. The bank is yet to decide on equity dilution for rasing funds.