SBI scouting for general insurance partner

State Bank of India (SBI) is in talks with 5 to 6 private companies for its general insurance venture.

The tie-up should be finalised by the end of this fiscal, said O P Bhatt, CMD, SBI.

SBI is expecting a nod from the finance ministry for raising Rs10,000 crore by diluting the government stake in SBI by 4% by the end of this month. The government currently holds 59.73% stake in this public sector bank, which is expected to go down to 55%, post dilution.

SBI today adopted Majhdaha village in Nadia district of West Bengal under its 'SBI ka apna Gao' scheme that is aimed at raising all BPL families to the APL level.

Bhatt also distributed 3000 Kishan Credit cards in the village.