State Bank of India (SBI) has settled its legal spat with Telangana government over Raidurgam land in Hyderabad. Under recent deal,SBI drops its case,accepts new site for data center.
Saturday saw senior SBI officials and Chief Secretary Ramakrishna Rao's team hammer out settlement. Telangana also promised extra plot in Future City project for bank's data hub.
Weeks of tension led up to this. SBI secured stay from Telangana High Court when Telangana Industrial Infrastructure Corporation (TGIIC) tried auctioning land meant for SBI. State nearly pulled financial transactions from SBI,leaving Chief Minister A Revanth Reddy uneasy.
Insiders say Reddy flagged issue with Finance Ministry,SBI's leadership,seeking to break deadlock. SBI now has clear path ahead…but will it last?






