STATE BANK OF INDIA PROMISES INSURANCE PARTNER WITHIN SIX MONTHS

State Bank of India (SBI), the largest publicly-owned bank in India, will finalise a partner for its proposed non-life insurance venture within three to six months, according to chairman Om Prakash Bhatt. He said that “we are interested in the general insurance business and we are talking to some foreign companies in this regard”. He said that six or seven companies from Australia, Europe and the US had expressed an interest in the proposed venture, and that SBI was currently compiling a shortlist of two or three companies.