Friday, November 21, 2008

State Bank to Joint Venture with SocGen


State Bank of India , said on Thursday that it has got RBI's go ahead for the proposed joint venture with a unit of French bank Societe Generale.
In a statement issued by it, State Bank of India said that a joint venture with Societe Generale Securities Services to offer custody and related services is expected to start operations by the first quarter of 2009.
SBI also added that it would hold 65% in the venture.

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