State Bank of India (SBI) is planning to offload non-core assets and list some of its subsidiaries to comply with capital needs for Basel III risk norms that will be effective from March 2019.
SBI has already unveiled plans to reduce its stake in SBI Life Insurance and SBI General, its insurance ventures.
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Other subsidiaries of the bank include SBI Capital Markets, SBI Funds Management, SBI Pension Funds, SBI Cards and Payment Services, SBI DFHI as well as SBI Global Factors.
SBI chairperson Arundhati Bhattacharya said: "For us, we have a number of non-core assets which we are looking at monetising. We also have very successful subsidiaries which we have not listed. So, we can look at those as well."
State-owned lenders need a capital of INR1.8 lakh crore to adhere to Basel-III norms, out of which INR 70,000 crore will be offered by the government, while the rest will come from banks through profits and non-core assets, Bhattacharya added.
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