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| State Bank Of India |
The merger proposal initiated by Modi Government last May and was scheduled for Mar 2017, Now union cabinet approves the merger of five of SBI’S subsidiaries – State Bank Of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, and State Bank Of Travancore, as announed earlier Bharatiya Mahila bank would also be part of SBI but union Cabinet doesn't approved it. It may be announced later.
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| SBI and It's Subsidiaries |
According to Finance minister Arun Jaitley this merger will lead to far greater operational efficiency and synergy of operations within these banks. He also said that SBI, following the merger, Bank will not only be a large domestic bank, but will also become a global player as well.
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