SBI-State Bank of Indore merger gets RBI approval
By Vaibhav Aggarwal
Jun 7, 2010
Print    Email    RSS   

The merger of State Bank of India, the largest lender of the country with its associate bank, State Bank of Indore has finally been approved by banking regulator, RBI.

The apex bank is understood to have given its nod to the amalgamation proposal.

SBI had earlier said that it wanted to go ahead with the merger in the 1st quarter of this fiscal. It has however not officially confirmed the approval.

The bank had got approval from its board as well as the Center for the merger. RBI's approval was pending.

SBI holds 98% stake in State Bank of Indore.

The share exchange ratio of the bank has been declared as 34:100.


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

 Select a product:

Plan for your retirement
Get a loan to meet your any personal need
Which is better: personal loan or gold loan?
Gold based financing; 'loan to buy gold...
Loan upper limit increased for women

HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive