SBI to launch derivative embedded products

New Delhi, May 12: Country's largest PSU lender, State Bank of India (SBI) is in the process of launching derivative embedded products to help customers utilise the new RBI dispensation to manage their risks and earnings more effectively.

The bank also plans to enter into the areas of merchant acquisition, payment solutions, private equity, infrastructure fund, venture capital, pension funds management, general insurance and financial planning and wealth management, it said in a statement.

To concentrate more on the rural business, it plans to credit-link 2.63 lakh self-help groups (SHGs)and will tie-up with around 20,000 internet kiosks during next two years.

The bank will cover one lakh villages in 24 months, the statement added.

UNI