SBI's merger plan with remaining associates still laggard
By Joseph Samson
Aug 31, 2010
Print    Email    RSS   

It may not be as soon as thought for SBI merging with all its associate banks. The government wants a clear picture of the cost to be incurred for the remaining mergers and others factors from SBI before coming to any decision on the issue.

Chairman of SBI, O P Bhatt had hinted during completion of merger of State Bank of Indore with SBI that he would soon be discussing the issue of merger of remaining associate banks also.

"There is a cost involved in the merger and some associates are listed on bourses. A definite idea from the bank on the resources required, will smoothen the process," said a senior finance ministry official.

Of the remaining associate banks, SBBJ, State Bank of Mysore and State Bank of Travancore are listed in the stock exchanges of India.

A SBI senior official said that the amalgamation of State Bank of Patiala and Hyderabad would not consume much time. "We haven't send any formal proposal so far. It will be done on a case to case basis in consultation with the management and unions of associate banks," he said.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Complete Guide to the Home Loan Process in...
Joint Home Loan: A wise decision for a...
Carnival of Indian Personal Finance Blogs #6
Paying back home loans: Which repayment...
RBI reports 19.73% credit growth of banks...

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive