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SBI merger News

14 Aug 2017

SBI slashes staff count, 10,000 employees to be redeployed

Out of the total staff planned to be redeployed, 2,000 amount to shift in administrative offices, and rest because of branch rationalisation.

17 Jul 2017

Number of public sector banks may go down to 12 as government mulls consolidation

The 21 public sector banks would get consolidated to 10- 12 in the medium term, the official said.

13 Jun 2017

No assurance on write-offs due to merger: SBI

The country's largest lender SBI has said write-downs or write-offs on account of the merger of five associates cannot be entirely ruled out.

PSU bank consolidation

09 Jun 2017

Govt may approve one more PSU bank consolidation by March

Enthused by the success of SBI merger, the Finance Ministry is considering clearing another such proposal in the public sector banking space by this fiscal end with a goal to create 4-5 global sized lenders.

State Bank of India

01 Apr 2017

Five associate banks, BMB merge with SBI

Five associates and the Bharatiya Mahila Bank became part of the State Bank of India (SBI) on Saturday, catapulting the country's largest lender to among the top 50 banks in the world.

31 Mar 2017

Five associate banks to merge with State Bank of India tomorrow

Post-merger, the combined entity will have 23,899 branches and employee strength of 2,71,765.

23 Feb 2017

Five associate banks to merge with State Bank of India from April 1

The five associate banks are State Bank of Bikaner & Jaipur, State Bank of Mysore, State Bank of Travancore, State Bank of Patiala and State Bank of Hyderabad.

State Bank of Travancore

18 Feb 2017

Ahead of merger with SBI,associate State Bank of Travancore to raise up to Rs 600 crore

Ahead of its proposed merger with parent SBI, State Bank of Travancore (SBT) will raise up to Rs 600 crore to shore up additional tier-I capital by issuing Basel compliant bonds on private placement.

16 Feb 2017

Merger of 5 associates to be completed in FY18: SBI chief

Top lender State Bank of India (SBI) on Thursday said the merger of its five associates will happen in the next financial year and ruled out any wage-related issues delaying the process.

15 Feb 2017

Cabinet approves merger of five subsidiaries of State Bank of India

The associate banks which will be merged with SBI are: State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP) and State Bank of Hyderabad (SBH).

02 Jan 2017

SBI pushes merger of 5 associate banks, BMB to next fiscal

State Bank chairperson Arundhati Bhattacharya today hinted that the mega merger of its five associate banks and Bharatiya Mahila Bank (BMB) could be pushed to the next financial year as it is still awaiting the government notification on the move.

State Bank of India

27 Nov 2016

SBI likely to get RBI nod on merger of associate banks soon

State Bank of India (SBI) expects to soon receive RBI's approval for the detailed merger plan of its associate banks.

State Bank of India

26 Sep 2016

SBI merger: Associate banks to soon submit report on amalgamation to RBI

Government earlier this year cleared the proposal to merge SBI with its five associate banks -- SBBJ, State Bank of Travancore, State Bank of Patiala, State Bank of Hyderabad -- and the new Bharatiya Mahila Bank (BMB).

Bharatiya Mahila Bank

04 Sep 2016

Arundhati Bhattacharya hopes to kick off SBI's mega merger by October-end

SBI hopes to kick off merger of its associates as well as Bharatiya Mahila Bank with itself by October-end and try to complete the process by March next, making it the 45th largest lender globally in terms of assets.

29 Aug 2016

State Bank of Travancore pleas RBI, SEBI to intervene merger with SBI

State Bank of Travancore Employees Union (SBTEU) has urged the Centre not to go ahead with the decision to merge SBT and other associate banks with SBI and also wants the RBI and SEBI to intervene in the matter.

State Bank of India

21 Aug 2016

SBI merger with associates, BMB exempt from CCI approval

State Bank of India will not need fair trade regulator CCI's approval for merging 5 associates and Bhartiya Mahila Bank with itself, a move that will create a global sized bank with an asset base of Rs 30 lakh crore.

18 Aug 2016

SBI clears merger of associate banks with itself

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18 Aug 2016

SBI board clears merger of 5 associate banks, BMB with itself

In a bid to create global size bank, the board of State Bank of India on Thursday approved scheme of merger of five associate lenders and Bharatiya Mahila Bank (BMB) with itself while protecting the interest of the existing staff.

State Bank of India

22 Jul 2016

SBI associates' staff will not be affected by merger: Arun Jaitley

Interest of the employees of five associate banks will be protected following their merger with the parent entity State Bank of India, Finance Minister Arun Jaitley said on Friday.

11 Jul 2016

Strike deferred, banks to be open on Tuesday, Wednesday

Banks will be open and operations normal on Tuesday and Wednesday after a section of the public sector bank employees on Monday deferred their proposed two-day nationwide strike following the intervention of the Delhi High Court.

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