Is SBI card a subsidiary of SBI?

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Yes, SBI Card is a subsidiary of SBI, India's largest commercial bank in terms of deposits, advances and number of branches. State Bank of India (SBI) hold 74% and Carlyle Group hold 26% stack in SBI Card.

SBI Card was incorporated in 1998 as a joint venture between State Bank of India and GE Capital. In 2017, GE Capital existed and its stake was taken over by SBI and Carlyle Group.

Topic: SBI Cards IPO FAQs Article

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