SBI plans to initiate its merger with its five associates by the end of October
Posted on: 05/Sep/2016 11:43:01 AM
The central board of the SBI had approved the acquisition of all the five associate banks and Bharatiya Mahila Bank and finalised the swap ratios for the merger.
The State Bank of India plans to initiate its merger with its five associates and the Bharatiya Mahila Bank by the end of October.
The five associate banks that will integrate with the parent lender are the State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad.
Shareholders of these banks have been given 21 days to file their objections with the grievance committee, which is headed by a high court judge
