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State Bank of India, the country top lender, is in advanced stages of setting up a general private equity fund jointly with sovereign entities in Oman, its chairman said on Friday.

O.P. Bhatt also told shareholders at the annual general meeting that several other funds were at various stages of formation without elaborating.

He said the bank's custodian services joint venture with Societe Generale would likely start in the second quarter of the current fiscal year that began in April. 

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