Initiating a debate on the State Banks (Repeal and Amendment) Bill 2017, S P Muddahanumegowda (Cong) said nearly 34 crore people would be affected by the increase in minimum balance. The Bill seeks to extinguish the existence of five associate banks following their merger with the SBI from April 1 this year. The five associates that were merged are State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT). At the same time, State Bank of Mysore reported a loss of Rs 2,600 crore with gross NPA of 25.7 per cent. Chowdhury alleged that a Gujarat corporate house has an NPA of Rs 72,000 crore and the government was waiving that.

Source: Economic Times August 10, 2017 13:07 UTC