Question

SBI To Acquire 20% Stake In SBI Pension Fund.

Answer 1

The State Bank of India (SBI) has unveiled plans to enhance its position in the financial landscape by acquiring an additional 20% stake in SBI Pension Funds.

SBI, already holding a majority 60% stake in SBI Pension Funds, aims to increase its ownership to 80% through a transaction valued at ₹229.52 crore. The remaining 20% stake in SBI Pension Funds is currently held by SBI Funds Management.

Both the Reserve Bank of India (RBI) and the Pension Fund Regulatory and Development Authority (PFRDA) have given their approval for the planned acquisition.