State Bank of India (SBI) has informed that the Bank has signed, on June 05, 2008, a Joint Venture Agreement with Societe Generale Securities Services (SGSS), a division of Societe Generale Group, to form a Joint Venture Company which will offer Custody and related services in India. The formation of the Company will be subject to receipt of necessary regulatory clearances / approvals. SBI and SGSS will hold 65% and 35% respectively of the equity in the new Company.
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