FILE PHOTO: A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo
| Photo Credit: Reuters
India’s largest lender, State Bank of India (SBI), is set to finance its second merger and acquisition transaction after it completed its first one in the current year, said C.S. Setty, Chairperson of the bank, on Wednesday (June 3, 2026) at Mumbai.
“We have done one transaction, we are doing another one,” Mr. Setty said on the sidelines of the Citi India conference 2026, adding that SBI has already put in place the required systems and a dedicated team for the business. Mr. Setty, however, did not disclose the details of the transactions.
The comment is an update to the announcement SBI had made a few months ago, on collaboration with a Japanese bank for acquisition financing.
Meanwhile, the Monetary Policy Committee has geared up to announce rate action on Friday (May 29, 2026), the SBI top boss forecast that the Reserve Bank of India (RBI) will hold rates. “Broadly, the market expects that there could be a rate pause at this juncture. Growth and inflation trends continue to be the key factors that will influence the monetary policy decision,” Mr. Setty said.
On the IPO of SBI AMC, Mr. Setty said that it may list within the current calendar year, and the prospectus has been filed and is awaiting SEBI approval.
Published – June 03, 2026 11:13 pm IST
