State Bank Of India Management On Merger Nod
Jun 15, 2016
On March 26, 2017 19:30 (IST)
The total workforce of the country's largest lender -- State Bank of India (SBI) -- will see a reduction over the next two years, a top official said.
On March 22, 2017 20:37 (IST)
"All branches of Bharatiya Mahila Bank (BMB) will function as branches of the SBI from April 1. Customers, including depositors of BMB, will be treated as customers of SBI," the RBI said.
On March 22, 2017 13:55 (IST)
The combined employee strength of SBI after the merger will be 270,000, including 70,000 employees of the five associate banks.
On March 21, 2017 17:15 (IST)
"As per the Finance Ministry, the merger of BMB with SBI has been approved. We are awaiting the date of merger. The effective date of merger will come in the notification," SBI Managing Director Dinesh Kumar Khara said.
On March 21, 2017 13:08 (IST)
The five associate banks will cease to exist as legal entities and become a part of SBI from April 1, but the various merger processes will start only after April 24.
On March 20, 2017 21:43 (IST)
With the merger of all the five associates, SBI is expected to become a lender of global proportions with an asset base of Rs 37 lakh crore or over $555 billion, 22,500 branches and 58,000 ATMs.
On March 20, 2017 20:01 (IST)
The finance ministry said the State Bank of India group already has 126 exclusive all-women branches across the country while the Bharatiya Mahila Bank (BMB) has only seven.
On March 19, 2017 11:56 (IST)
The Union Cabinet has already given in-principle approval to the merger of BMB with State Bank of India (SBI).
On March 03, 2017 20:19 (IST)
The merger process of the associates banks -- State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP) and State Bank of Hyderabad (SBH) -- will take effect from April 1.
On February 23, 2017 20:17 (IST)
The assets of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP) and State Bank of Hyderabad (SBH) will be transfered to SBI from April 1, 2017, SBI said in a regulatory filing.
On February 16, 2017 18:10 (IST)
On Wednesday in a post Cabinet meet briefing, Finance Minister Arun Jaitley had announced the final approval of the government to the merger proposal of SBI's five subsidiaries with the parent entity.
On February 16, 2017 16:05 (IST)
Shares in SBI and three listed subsidiaries - State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner and Jaipur - surged between 3 per cent and 13 per cent.
On February 15, 2017 19:53 (IST)
With the merger of all the five associates, SBI is expected to become a global-sized bank with an asset base of Rs 37 lakh crore or over $555 billion, 22,500 branches and 58,000 ATMs. It will have over 50 crore customers.
On January 02, 2017 19:15 (IST)
The merger would make SBI a global-sized bank and would be amongst the top 50 lenders in the world, with an asset base of Rs 37 trillion or over $555 billion.
On December 05, 2016 16:12 (IST)
State Bank of India said the merger plan of associates with itself is on track and it should not get delayed due to the ongoing demonetisation process.
On November 30, 2016 17:11 (IST)
The amalgamation of BMBL with SBI has been approved, Competition Commission of India (CCI) website showed.
On November 27, 2016 16:11 (IST)
State Bank of India (SBI) expects to soon receive RBI's approval for the detailed merger plan of its associate banks.
On November 11, 2016 20:11 (IST)
SBI will issue 4.42 crore shares to Government of India for its 100 per cent stake in BMB.