SBI To Acquire 10% Stake In India International Clearing Corporation

State Bank of India on Thursday said it will acquire about 10 per cent stake in the India International Clearing Corporation

State Bank of India (SBI) on Thursday said it will acquire about 10 per cent stake in the India International Clearing Corporation (IICC).

IICC is the first international clearing corporation set up at GIFT-IFSC that acts as a central counterparty providing clearing and settlement and risk management services.

It clears and settles index and single stock derivatives, currency derivatives and debt securities.