Consolidation will help banks derive economies of scale, but integration will not be easy.
State Bank of India (SBI) is asking prospective partners for its general insurance foray to pay it Rs 300 crore (Rs 3 billion) to Rs 350 crore (Rs 3.5 billion) as entry premium, insurance industry sources said.
As per the bank sources, senior-most MDs -- A Krishna kumar and Hemant Contractor -- are part of the committee.
Many other companies have expressed intent of diluting stakes.
A team from CBI's bank securities & fraud cell in Delhi visited SBI's offices in Mumbai and Delhi and held discussions with senior officials of the bank. The CBI office, however, said no 'search' operations have been conducted so far.