SBI to IPO insurance, mutual fund units
SBI is considering taking its subsidiaries, SBI General Insurance and SBI Mutual Fund, public through IPOs.
The news came straight from Chairman C S Setty during the launch of specialized health insurance branches in Telangana and Andhra Pradesh.
No dates yet, but it's a sign that SBI wants to unlock more value from these growing businesses.
Health insurance branches and mutual fund management
SBI General Insurance just opened new health insurance branches in places that don't have much coverage yet—and they're planning to expand nationwide.
Meanwhile, SBI Mutual Fund manages investments for the bank's customers.
Both are central to SBI's push to make financial services more accessible across India.
Setty speaks on US tariffs impact and bancassurance reforms
Setty also mentioned that while some sectors like chemicals and textiles are feeling the pinch from US tariffs, SBI isn't too exposed there.
He assured support will continue if export challenges persist.
Plus, the bank is rolling out bancassurance reforms (think: better access to insurance products) and hiring more people as part of its growth plans.