SBI will merge with five of its associates and the Bharatiya Mahila Bank (BMB); the process will start from April 1. State Bank of India (SBI), which would start merger process of five associates and Bharatiya Mahila Bank (BMB) from April 1, expects integration to be completed in three months. The government has already given approval for merger of State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH), and BMB. SBI first merged State Bank of Saurashtra with itself in 2008. SBI had approved separate schemes of acquisition of State Bank of Patiala and State Bank of Hyderabad.

Source: dna March 28, 2017 18:22 UTC