Customers use an automated teller machine (ATM) at a State Bank of India Ltd. (SBI) branch at night in Bengaluru, India. (Photographer: Karen Dias/Bloomberg)
SBI Cards & Payment Services Ltd., which opens its initial public offering next week, will become the latest from the State Bank of India stable to enter the public markets. SBI Cards will become the third group company, after SBI itself and SBI Life Insurance Co. Ltd. to become a public listed entity.India’s largest lender has many more where those came from.In total, SBI has nearly 40 non-bank subsidiaries, foreign bank subsidiarie...