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SBI Readies for Major UK Restructuring
February 26, 2018
Public sector State Bank of India is preparing to bring about some major reforms for its business in the United Kingdom this April.
According to a recent statement, in compliance with the capital requirements of the Bank of England, SBI will convert its banking operations in the UK into a subsidiary named State Bank of India UK.
As per the reform, all the existing branches of SBI will come under the new subsidiary entity rather than being considered as the overseas branches of SBI India.
