SBI planning to float an initial public offer for its credit card subsidiary, SBI Cards
Reportedly this has been disclosed through a filing the bank has made with the stock exchanges and the company said in a regulatory filing that “Pursuant to the applicable provisions of the SEBI (LODR) Regulations, 2015 we advise that the Executive Committee of Central Board of the Bank at its meeting held today has given in-principle approval to explore the possibility of diluting SBI’s stake in SBI Cards & Payment Services Private Limited, a subsidiary company through IPO route at an opportune time, subject to the approval of RBI and other regulatory agencies in this regard".
Meanwhile the credit subsidiary of SBI is a joint venture between State Bank of {{RelevantDataTitle}}