Saturday, April 29 2017 Home arrow Main News arrow Five subsidiaries banks merge with State Bank of India
 
 
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Five subsidiaries banks merge with State Bank of India PDF Print E-mail
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New Delhi -The Cabinet  has approved the proposal of acquisition of subsidiary banks of State Bank of India (SBI) i.e. State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore with State Bank of India. It shall come into effect on 1st April, 2017. The merger is aimed at economies of scale and operational efficiency leading to improved supervision process, compliance and productivity in addition to better risk management.The existing customers of Subsidiary Banks will have access to SBI global network which has presence in all the time zones. 


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