Diluting stake in insurance subsidiaries to take time: SBI

State Bank of India, which is looking to sell some of its stake in life and non-life insurance subsidiaries, said on Thursday the process may take "a little time".

"This is not something which will happen immediately," State Bank of India (SBI) chairman Arundhati Bhattacharya said on the sidelines of the India Investment Summit Stock Market Trading Tips

The bank has already announced plans to lower its stake in insurance ventures — SBI Life Insurance and SBI General.

For its life insurance venture, SBI proposes to sell up to 10 per cent stake, while it might sell about 23 per cent stake in its general insurance subsidiary.

"Going by Irdai (Insurance Regulatory and Development Authority of India), the shareholders' agreement needs to be changed in both of these, so those are the jobs getting done. After that, we will do...," Bhattacharya said Himanshu Tiwari Astrologer Blog

With regard to its anti-money-laundering initiative, the SBI chief said the bank had developed a robust system to detect such activity.