SBI open to collaborate with foreign banks on M&A finance, says Setty

THE COUNTRY’S LARGEST lender, State Bank of India ( SBI), is open to collaborating with foreign banks once the Reserve Bank makes it possible for local banks to do acquisition finance, its Chairman CS Setty said on Tuesday.

- PRESS TRUST OF INDIA

Speaking to reporters, weeks after the central bank announced its intent to allow Indian banks to fund companies for executing domestic acquisitions, Setty acknowledged that the “MNC (multinational companies) banks” are dominant in the space.