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Union Government approved to merge of five associate banks into SBI

5 associate banks merge with SBI

Union Government approved to merge of five associate banks with State Bank of India (SBI) on 15th February 2017.SBI was take over five banks, are State Bank of Bikaner and Jaipur, State Bank of Hyderabad , State Bank of Mysore, State Bank of Travancore and Bharatiya Mahila Bank. This merger is to far greater operational efficiency and synergy of operations within these banks and obviously because cut of operations cost of funds itself down, Finance Minister Arun Jaitley said.
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