March 16, 2017 / 5:28 AM / 4 months ago

BRIEF-State Bank of India approves infusing capital upto 11.60 bln rupees in credit card JV cos

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    March 16 (Reuters) - State Bank of India
    * State Bank of India - ECCB of bank  approves infusing
capital upto INR 11.60 billion in credit card JV companies
    * State Bank of India - JVs namely, SBI Cards & Payment
Services Ltd and GE Capital Business Process Management Services
Ltd.

Source text: 
 State Bank Of India has informed the Exchange that the Executive Committee of the Central Board (ECCB) of the Bank at its meeting held on March 15, 2017 has given approval for infusing additional capital upto Rs.1160.04 crore in credit card JV companies namely, SBI Cards & Payment Services Ltd. (SBICPSL) and GE Capital Business Process Management ServicesLtd. (GECBPMSL) through purchase of equity shares from GE Capital so as to increase Bank's stake in both the companies to 74%.
 
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