SBI MF IPO by September or before: CS Setty

State Bank of India Chairman CS Setty said on Saturday that an IPO of SBI Mutual Fund will be rolled out by September or before. He also said that SBI has received a dividend of Rs 2,200 crore from the fund house.

The news comes at a time when investors on Dalal Street have eagerly awaited the IPO of SBI Mutual Fund -- a joint venture between SBI and France's Amundi.

Setty also said that the time has come to have a structural look at the balance sheets as people have started parking their money in pension funds and other places like equities. "People are preferring gold loans over express credit because gold prices are better," he said.

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SBI to tap bond market in FY27

The SBI chairman also said that the PSU bank will raise funds from the bond market in the next financial year.

Banks across the country are struggling to mobilise deposits, he said.