Country's largest lender State Bank of India (SBI) needs to raise about Rs.40,000-50,000 crore of capital for the next five years. "Capital raising depends on many factors. Firstly, the state of the market and then need for budgetary provision if the government decides to issue capital to us," SBI chairman O.P. Bhatt said at a press conference. He further added that the bank would decide on how to go about the fund raising within the next six months to one year's time. SBI at present is in advanced stage of foraying into wealth management business, which could be in the form of a joint venture. The bank is in talks with two foreign entities in this regard. SBI needs expertise of a foreign partner and it could be either in the form of a joint venture or could even be through a memorandum of understanding. SBI expects to complete the merger of subsidiary, State Bank of Indore, by March. Talking about the bank's plans for the Initial Public Offering of its insurance arm, SBI Life, Bhatt said he expects it to come within a year. SBI owns 74 percent stake in SBI Life Insurance and the balance is with BNP Paribas Investment Services Private Ltd.