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SBI to expand overseas operations

MUMBAI, AUG. 20. State Bank of India plans to expand its international operations by opening 16 new overseas offices in the current financial year. It also plans to raise up to $750 million from the global market in the current fiscal. This expansion plan is in addition to the proposed overseas acquisitions in Asia and Africa, the SBI Chairman, A. K. Purwar, said here today after announcing that SBI had selected Infosys's Finacle IT software for its overseas branches. — Our Special Correspondent

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