New Delhi, Jun 27 (PTI) State Bank of India (SBI) on Tuesday said it will acquire an entire 20 per cent stake of SBI Capital Markets in SBI Pension Funds.

The stake transfer would be subject to all regulatory approvals, SBI said in a regulatory filing.

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The Executive Committee of the Central Board (ECCB) of the bank has accorded approval for acquiring the entire 20 per cent stake held by SBI Capital Markets Ltd in SBI Pension Funds Pvt Ltd, it said.

SBI Pension Fund is the largest pension fund manager out of 10 managing about Rs 3,59,040.81 crores of assets under management (AUM) with around 37 per cent market share as of May 31, 2023.

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It manages over 48 per cent market share of AUM in the private sector.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)