SBI which merged with the State Bank of Saurashtra last year has five more associates – State Bank of Travancore, State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Hyderabad but is unlikely to merge any more of its subsidiaries to self.
A senior finance ministry official in New Delhi on Thursday announced that has given in principle approval to the merger of State Bank of Indore with SBI. The official further mentioned that the boards of both banks would finalise further details of the merger and come to the Govt for approval. The merger is expected to be finalised within the month of December.
SBI which merged with the State Bank of Saurashtra last year has five more associates – State Bank of Travancore, State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Hyderabad but is unlikely to merge any more of its subsidiaries to self.