SBI incorporates new subsidiary firm to manage its estate matters
India’s largest lender State Bank of India (SBI) has incorporated SBI Infra Management Solutions Pvt. Ltd (SBIIMS) to manage its premises and estate related matters. SBIIMS primary role will be to handle non-core business such as transaction management, facility management, project management, advisory services and implementation of policies and initiatives. It will help in saving time of banks’ executives who were involved in managing this non-core business and they can now focus on core banking services. SBIIMS will have its own circle office in each local head office centre and about 100 zonal offices at administrative office centre of the bank on pan India basis.