The largest lender of the country, State Bank of India has said that the merger of its associate banks with itself has many strong prospects.
"The remaining associate five banks are not at all hesitating in merger. They are very eager for it," State Bank Chairman O P Bhatt said.
The banking major has already merged State Bank of Indore and State Bank of Saurashtra.
Bhatt said that the merger of the remaining banks is definite to take place and the a formal permission needs to be taken from the concerned authorities in this regard. It will take four to five years, said Bhatt.
The merger will be beneficial for both employees as well as customers, he said.