KOLKATA: The country's largest commercial bank, State Bank of India (SBI), is yet to firm up its plans on taking over UTI Asset Management Company Private Limited, the largest mutual fund player in India.
A senior Mumbai-based official of SBI said, "There were no such plans as of now".
The official said that since SBI had its own asset management company, it would have to be decided on whether the bank would go for acquisition of another mutual fund company.
After restructuring of UTI, the newly-formed UTI Asset Management had been sponsored by Life Insurance Corporation of India, SBI, Punjab National Bank and Bank of Baroda, each holding 25 per cent in the mutual fund outfit, which manages assets worth more than Rs 21,000 crore.
