The State Bank of India (SBI) is not just India’s largest public sector bank — it’s a vast financial powerhouse with multiple subsidiaries and joint ventures offering services across banking, insurance, investments, asset management, fund management, payments, and more.
Together, these companies form the SBI Group, extending the bank’s trusted legacy to every corner of India and beyond. In this blog post, we’ll explore all the major subsidiaries and joint ventures affiliated with the State Bank of India in simple language, so you can easily understand what each one does and how it contributes to India’s financial ecosystem.
1. SBI Life Insurance Company Limited
SBI Life Insurance is one of India’s most trusted and leading life insurance companies. It was incorporated in October 2000 and registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.
It serves millions of families with a wide range of products, including:
- Protection plans
- Pension plans
- Savings and investment plans
- Health insurance solutions
The company focuses on a “customer-first” approach, offering a seamless claim settlement process, ethical practices, and a strong digital experience for customers and employees.
🔗 Official Website: www.sbilife.co.in
2. SBI General Insurance Company Limited
SBI General Insurance is one of the fastest-growing general insurance companies in India. Established in 2009, it has grown rapidly from 17 branches in 2011 to 144+ branches nationwide.
In FY 2023–24, the company achieved a 17% growth in Gross Written Premium (GWP), reaching ₹12,731 crore.
With over 8,000 employees and partnerships across 22,000+ SBI branches, agents, and digital channels, SBI General provides insurance products for:
- Retail customers
- Corporates and SMEs
- Rural segments
It offers policies across health, motor, property, and business insurance categories.
🔗 Official Website: www.sbigeneral.in
3. SBI Cards & Payment Services Limited
SBI Cards is India’s largest pure-play credit card issuer and a subsidiary of the State Bank of India.
With over 20 million cards-in-force (as of December 2024), it caters to a wide range of customer segments — from individuals to corporates — offering cards under:
- Lifestyle
- Rewards
- Travel & Fuel
- Banking Partnerships
- Corporate categories
The company operates through a diversified customer acquisition network, including direct sales, online channels, and SBI’s vast branch network.
🔗 Official Website: www.sbicard.com
4. SBI Funds Management Limited
SBI Funds Management Limited (SBIFML) is a joint venture between State Bank of India and AMUNDI (France), a global leader in asset management.
With over 37 years of experience, SBIFML offers a wide range of financial products and services, including:
- Mutual Funds
- Portfolio Management Services (PMS)
- Alternative Investment Funds (AIFs)
- Offshore Funds
- GIFT City-based investment products
The company manages funds for millions of investors and aims to deliver consistent value and long-term returns.
🔗 Official Website: www.sbimf.com
5. SBI Capital Markets Limited (SBICaps)
SBI Capital Markets (SBICaps) is one of India’s leading investment banking and corporate advisory firms.
It offers services across three main segments:
- Project Advisory & Structured Finance
- Equity Capital Markets
- Debt Capital Markets
SBICaps also provides services such as mergers & acquisitions, private equity advisory, ESG advisory, IPO management, debt placement, and stressed asset resolution.
🔗 Official Website: www.sbicaps.com
6. SBI Cap Securities Limited (SSL)
SBI Cap Securities Limited is the retail broking arm of the SBI Group and a wholly-owned subsidiary of SBICaps.
It offers online and offline investment services, including:
- Equity and derivatives trading
- Mutual funds
- Corporate fixed deposits
- Insurance products
SSL also helps source home loans and auto loans for SBI customers through its digital trading platforms and mobile app.
🔗 Official Website: www.sbisecurities.in
7. SBI Ventures Limited (SVL)
SBI Ventures Limited (formerly SBICAP Ventures Ltd) is SBI’s alternative investment management arm.
As of 2025, it manages:
- 3 Alternative Investment Funds (AIFs) worth ₹17,000 crore
- 3 Funds of Funds with a ₹13,000 crore corpus
SVL invests in sectors like:
- Real estate and MSME financing
- Renewable energy and waste management
- Climate-focused and impact investments
Prominent investors include the Government of India, LIC, and international agencies like JICA, EIB, and FCDO (UK).
🔗 Official Website: www.sbicapventures.com
8. SBI CAP Trustee Company Limited
SBI CAP Trustee Company Limited (STCL) is a wholly owned subsidiary of SBI Capital Markets Limited and registered with SEBI as a Debenture Trustee.
Its services include:
- Debenture and Security Trustee
- Alternative Investment Fund Trustee
- Share Pledge Trustee
- Escrow and Safekeeper Trustee
- Will-making and Virtual Data Room services
STCL focuses on fairness, transparency, and customer satisfaction through technology-driven trustee services.
🔗 Official Website: www.sbicaptrustee.com
9. SBI SG Global Securities Services Private Limited
SBI-SG Global Securities Services Pvt. Ltd. is a joint venture between SBI (65% stake) and Société Générale (SG).
The company provides custodial and fund accounting services for:
- Mutual Funds
- AIFs and PMS
- Insurance Funds
- FPIs and FDIs
SBI-SG is ISO 9001 and ISO 27001 certified and is one of India’s top two domestic fund accounting providers.
🔗 Official Website: www.sbisgcsl.co.in
10. SBI DFHI Limited
SBI DFHI Limited is one of India’s largest standalone Primary Dealers (PDs) with a strong presence in the government securities market.
It plays a crucial role in:
- Supporting government security auctions
- Providing liquidity in secondary markets
- Trading in money market and debt instruments
Its operations are regulated by the Reserve Bank of India (RBI).
🔗 Official Website: www.sbidfhi.com
11. SBI Payments Services Private Limited
SBI Payments is a joint venture formed to manage SBI’s merchant acquiring business, where SBI holds a 74% stake.
It is one of India’s largest payment acquirers, enabling merchants to accept digital payments via:
- POS terminals
- QR codes
- Soundboxes
- BHIM-Aadhaar
- NETC and YONO Merchant apps
SBI Payments aims to build a digital payments ecosystem that reaches every corner of India.
🔗 Official Website: www.sbipayments.com
12. SBI Factors Limited
SBI Factors Limited is a wholly owned subsidiary of SBI and a leading provider of factoring services for domestic and international trade.
It helps businesses, especially MSMEs, by unlocking working capital tied up in invoices. It also participates in TReDS platforms and operates under the Factors Chain International (FCI) network to mitigate credit risks for exporters.
🔗 Official Website: www.sbiglobal.in
13. SBI Pension Funds Private Limited
SBI Pension Funds Private Limited (SBIPFPL) is one of India’s leading Pension Fund Managers (PFMs) under the National Pension System (NPS).
It manages pension assets for both:
- Government Sector Schemes, and
- Private Sector Schemes
SBIPFPL is among the top 3 PFMs handling NPS funds for the government and among 11 PFMs for private sector schemes.
🔗 Official Website: www.sbipensionfunds.com
14. State Bank Operations Support Services Private Limited (SBOSS)
SBOSS was established in July 2022 as a wholly owned subsidiary of SBI.
It provides operations support services to SBI’s Rural and Semi-Urban (RUSU) branches.
SBOSS uses advanced technologies to offer:
- Doorstep services for customers and borrowers
- Operational support in agriculture and SME sectors
- Financial inclusion initiatives for rural India
Its goal is to make rural banking high-tech, high-touch, and low-cost.
🔗 Official Website: www.sboss.net.in
15. SBI Foundation
SBI Foundation is the CSR (Corporate Social Responsibility) arm of the SBI Group. It was established in 2015 as a Section 8 Company under the Companies Act, 2013.
The foundation works across all 28 states and 8 union territories of India, focusing on improving lives through programs in:
- Education and healthcare
- Rural development
- Environment and sustainability
- Empowerment of vulnerable communities
Its mission is to bring positive social impact and contribute to nation-building through sustainable initiatives.
🔗 Official Website: www.sbifoundation.in
Conclusion
The State Bank of India Group extends far beyond traditional banking. Through its subsidiaries and joint ventures, SBI plays a key role in almost every area of India’s financial system — from insurance, investments, and credit cards to asset management, pensions, and digital payments.
Each subsidiary complements SBI’s vision of providing comprehensive financial solutions under one trusted brand — SBI: The Banker to Every Indian.
If you’re a customer, investor, or simply curious about India’s largest banking group, understanding these affiliates gives you a complete picture of how SBI continues to power India’s financial growth story.