Non-banking Subsidiaries
Apart from its five associate banks, SBI also has the following non-banking subsidiaries:
- SBI Capital Markets Ltd
- SBI Funds Management Pvt Ltd
- SBI Factors & Commercial Services Pvt Ltd
- SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)
- SBI DFHI Ltd
- SBI Life Insurance Co. Ltd.
- SBI General Insurance
In March 2001, SBI (with 74% of the total capital), joined with BNP Paribas (with 26% of the remaining capital), to form a joint venture life insurance company named SBI Life Insurance company Ltd. Now-a days SBI Life Insurance Co. Ltd ranks among the top and most trusted Life Insurance Companys in India and also abroad. In 2004 SBI DFHI Ltd(DISCOUNT AND FINANCE HOUSE OF INDIA) was founded with its headquarter in MUMBAI, MAHARASHTRA.SBI DFHI Ltd is primary dealer that trades in Fixed income securities(treasury bills, state development loans, government securities, non SLR bonds, corporate bonds) and Short Term Money Market instruments(certificates of deposits, commercial paper, inter-corporate deposits, call and money notice deposits).IT is an institution formed by RBI to support the book building process in primary auctions of Government securities and provide necessary depth and liquidity to the Secondary market in Government securities.
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