The proposed merger of SBI's five associate banks is expected to commence by September. The high-powered committee headed by SBI managing director S Vishwanathan would furnish its report by July-August, and the merger process could start by September, SBI chairman Pratip Choudhuri said.
The high-powered committee headed by SBI managing director S Vishwanathan would furnish its report by July-August, and later based on the report the merger process could start by September, SBI chairman Pratip Choudhuri told reporters . State Bank of
Out of five associate banks, three are listed, and two are in the direct ownership of SBI, he said, adding "we would take non-discriminatory way to decide and choose merger of any of the five associate banks. It would be a long process that would take employees' confidence and participation".
SBI's capital was not so strong earlier, but with the March's balance sheet the capital became very strong and for merger there should be a cash of Rs 1,000-3000 crore, he said. SBI did first ever amalgamation of its associate State Bank of Saurashtra in 2008 followed by State Bank of
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