 "SBI")
The Reserve Bank of India (RBI) has directed the State Bank of India (SBI) to stop the portfolio management operations under its fold and shift it to a subsidiary by March 2019, in an attempt to avoid conflict of interest.
This comes after the RBI had flagged regulatory concerns and conflict of interest, following which SBI Capital Markets, the merchant banking subsidiary of SBI, decided to stop providing project advisory and structured finance services to private sector entities. SBI has begun the process of restructuring SBI Caps, following concerns raised by the RBI.
Following the RBI’s diktat, SBI, the largest
