SBI Launches Subsidiary for Real Estate Services to Boost Efficiency, Retains Ownership of Properties, Says Finance Minister.

State Bank of India (SBI) has established a wholly owned subsidiary, SBI Infra Management Solutions Pvt. Ltd., to handle real estate services. This subsidiary will focus on transaction management, project management, facility management, and implementing policies, aiming to enhance operational efficiency by segregating non-core activities. SBI will retain ownership of its commercial and residential properties, including newly acquired ones, without transferring them to the subsidiary. This development was disclosed by the Minister of State for Finance in a written response in the Lok Sabha.