SBI receives board approval to divest 4.40% stake in CCIL

MUMBAI: Country's largest lender State Bank of India today said it has received board approval to divest 4.40 per cent stake in Clearing Corporation of India.

"The Executive Committee of Central Board (ECCB) in its meeting held today has accorded its approval for divestment of 22 lakh equity shares, constituting 4.40 per cent of our stake, in Clearing Corporation of India (CCIL)," the bank said in a regulatory filing.

The proposed sale is subject to necessary regularoty approvals and approval of CCIL Board, it said.