New Delhi, Oct 27: State Bank of India and France based Cardif are expected to infuse additional capital of about Rs 50 crore for their life insurance joint venture by 2004-05. "We may require further capital by the next fiscal," SBI life Managing Director R Krishnamurthy told reporters here. The 74:26 joint venture between SBI and Cardif, which started operations in 2001, has a total paid-up capital of Rs 125 crore. Asked to what extent both the partners would have to pump in additional capital, he said a review would be taken up to assess the requirements, but declined to spell out the exact amount needed. However, indications are that SBI life, which recently launched a NRI product 'Sethubandhan', might require about Rs 50 crore additional capital. The move is in line with Insurance Regulatory and Development Authority's prudential norms on the solvency margins and capital adequacy. He said since SBI life was concentrating on group insurance products, their average cost of underwriting was lower as compared to other players' highly capital intensive products. "There is no need for any capital for this year," he said. Asked about the group insurance, Krishnamurthy said very soon SBI life would offer coverage to all employees of the Howrah municipal corporation. Bureau Report