 "SBI")
SBI Capital Markets, the merchant banking subsidiary of State Bank of India, will stop providing project advisory and structured finance (PASF) services to private sector entities from August. The country’s largest lender took this decision after the Reserve Bank of India (RBI) flagged off regulatory concerns and conflict of interest.
SBI Caps will continue to take PASF mandates from public sector undertakings (PSUs) as SBI sees synergy with state-owned entities.
The decision to stop PASF services for private sector will affect 50 capital market professionals. SBI is likely to offer them a position in the bank's project finance unit.
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