SBI to divest 5% stake in its life insurance subsidiary
State Bank of India will divest up to 5% of its stake in its life insurance subsidiary SBI Life Insurance, the bank said on Friday. SBI Life is a joint venture between the State Bank of India and BNP Paribas Cardiff, in which the former owns 74% of the stake. The sale could reportedly fetch SBI around ₹1,950 crore.