Answer: SBI
Notes: Canara Bank plans to sell State Bank of India, the other JV partner, its whole 40% investment in the Russian joint venture (JV), Commercial Indo Bank LLC (CIBL) (SBI). The transaction's cash consideration is worth USD 14.67 million. (114 crore rupees) The deal is anticipated to close on or before March 31, 2023. After the transaction, the State Bank of India would own all of CIBL, a joint venture between SBI and Canara Bank that was founded in Russia in 2003. For a 40% equity transfer from SBI, Canara Bank is anticipated to get $14.67 million, or roughly Rs 114 crore.
