SBI paid Rs 67.84 crore for the acquisition of 13.42 per cent stake in SBI Global Factors Ltd (SBIGFL), it said.
State Bank of India and SBI Global Factors Ltd have separately taken approval of Reserve Bank of India for acquisition of shares and change of control in management, it said.
SBIGFL is a non-banking financial company. It provides domestic and export factoring services.
During 2021-22, the SBIGFL turnover was Rs 4,773 crore, while it earned a profit of Rs 25.26 crore.