SBI acquires 9.95% stake in India International Clearing Corporation (IICC)
- India’s largest public-sector lender, State Bank of India (SBI) has announced the acquisition of 9.95 percent stake in India International Clearing Corporation (IICC) Ltd.
- This 9.95 percent stake will be subjected to a maximum investment of Rs. 34.03 crore.
- IICC is the first international clearing corporation set up at the Gujarat International Finance Tec-City’s International Financial Services Centre (GIFT IFSC).
Source: Hindu Businessline
Points to Remember:
- What percent stake is acquired by SBI in IICC Ltd?
- Which bank has acquired 9.95% stake in India International Clearing Corporation (IICC) Ltd?
- The 9.85% stake of SBI in IICC Ltd. will subject to a maximum investment of_______
- IICC Ltd is based at? Gandhinagar, Gujarat