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

The merger of the five associate banks with State Bank of India (SBI) will be postponed to by a quarter due to the demonetization exercise, acknowledged SBI chief Arundhati Bhattacharya who for weeks stated that the merger is as per the schedule. The bank had announced in May plans to merge its five associate banks with itself by March 2017 to emerge as a global bank in order to compete with peers in emerging markets.

Source-The Economics Times

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