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    • 3 years of Modi: Banking sector reforms announced; results awaited

      In an attempt to help banks, especially public sector banks (PSBs) recognise the ashes of high level of non-performing assets (NPAs) and rise like a phoenix, in December 2015, the Reserve Bank of India under the leadership of former Governor Raghuram Rajan, asked banks to set aside a pool of funds in the form of provisioning towards sub-standard assets. This further dented the banks’ balance sheets.

    • SBI to raise funds via FPO, QIPs;to appoint 6 merchant bankers

      "The bank intends to tap capital markets via a QIP/FPO. The issue size may vary based on various factors including but not limited to management discretion and the decision of the shareholders," SBI said in a public notice.

    • Usha Ananthasubramanian new head of Allahabad Bank

      Before joining Allahabad Bank, she was the MD & CEO of Punjab National Bank, a bank release said.

    • About 15,000 staff from SBI associates request for transfers

      About 2,800 SBI’s associate employees have opted for voluntary retirement scheme (VRS) of the total 12,500 eligible for the scheme.

    • SBI wraps up merger in 48 hrs, creates largest database with 500 m users, 740 m a/cs

    • Five associate banks, BMB merge with State Bank of India

      State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT), besides Bharatiya Mahila Bank (BMB), merged with SBI with effect from April 1, the bank said in a statement.

    • Will integrate administrative offices & reduce duplicity: SBI's Dinesh Khara

      In an interview to CNBC-TV18, Dinesh Khara, MD- Subsidiaries at State Bank of India (SBI) spoke about the merger and operational plans henceforth.

    • Associate banks' branches to become SBI branches from April 1

      “Customers, including depositors of State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore will be treated as customers of State Bank of India with effect from April 1, 2017,” the RBI said in a notification.

    • SBI to tap overseas bond market again;eyes $1.5 bn in dollar debt

      In a BSE filing this evening, the bank said its "executive committee of the central board will meet on March 24 to examine the issuance of RegS bonds worth USD1.5 billion for a tenor not exceeding 5.5 years in fiscal 2018."

    • Cabinet approves SBI merger with Bharatiya Mahila Bank

      BMB’s total business of Rs 2,000 crore and its 103 branches will be merged with the country’s largest bank soon.

    • Consolidation in PSU banks a long drawn process: Rai

      Terming consolidation in public sector banks a "long drawn process", Banks Board Bureau (BBB) chief Vinod Rai said it should gather momentum in 2-3 years.

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

      State Bank chairperson Arundhati Bhattacharya today hinted that the mega merger of its five associate banks and Bharatiya Mahila Bank (BMB) could be pushed to the next financial year as it is still awaiting the government notification on the move.

    • Merger of associates on track despite demonetisation: SBI MD

      The merger of five associates and the Bharatiya Mahila Bank (BMB) is planned to be wrapped up by 2016-17 end.

    • SBI-Bharatiya Mahila Bank merger gets Competition Comm nod

      Competition Commission has approved the merger of Bharatiya Mahila Bank with the country's largest lender State Bank of India (SBI).

    • Associate banks to soon submit report on amalgamation to RBI

      The board of the directors has considered the report of the expert committee set up to look into the written objections from shareholders in terms of the Grievance Redressal Mechanism set up as part of the scheme of acquisition, SBBJ said in a regulatory filing on stock exchanges today.

    • Govt to go ahead with merger of SBI subsidiaries, BMB: Jaitley

      "All procedure will be followed. The government has already taken decision at the level of the Cabinet to fully support the proposal for the merger," Jaitley told reporters post the meeting with public sector banks for the first quarter performance review.

    • SBI to absorb corporate branches of associates post merger

      SBI on July 1 said the corporate branches of its five associate banks will "fold up" into the parent bank as part of network rationalisation after their merger.

    • Merging state banks is easier said than done: Moody's report

      SBI consolidation is going to bring down the number of PSU banks from 27 to 21. The government aims to bring this number down to below 10. But the task of consolidation is not easier, finds a Moody's report.

    • 'Bank mergers likely to happen after SBI consolidation'

      "Banks can consider merger and acquisition only when their financial strength improves significantly. Logically, the next round of mergers and acquisition may take place after consolidation of associate banks and acquisition of Bharatiya Mahila Bank with SBI," the official said.

    • Cabinet may approve 5 associate bank merger with SBI today: Srcs

      CNBC-TV18 learns the government may give a final nod and roll out a comprehensive plan for the merger.

    • Govt to soon clear merger of SBI & associates: FM

      Favouring consolidation in the public sector banking space, Finance Minister Arun Jaitley said the government as of now is looking only at SBI merging 5 subsidiaries as well as Bharatiya Mahila Bank with itself and a decision on this will be taken soon

    • Board Bureau chief Vinod Rai says it's time for mergers

      Vinod Rai, the veteran bureaucrat appointed this year to run the new Banks Board Bureau, told Reuters the government stood ready to inject fresh funds beyond the USD 3.7 billion earmarked in the 2016/17 Budget.

    • Mundra sees no job losses from bank consolidation

      Mundra, who joined RBI after rising up the ranks in commercial banks, said there have not been any job losses in such situations, even in the private sector.

    • SBI associate banks merger to cost Rs 1,660 crore: Moody's

      The merger of five associate banks and newly created Bharatiya Mahila Bank with SBI will cost USD 250 million (around Rs 1,660 crore) and have limited impact on the lender's credit metrics, ratings agency Moody's Investors Service said on May 20

    • SBI associate banks staff to go on strike tmrw against merger

      A section of employees of five associate banks of SBI has threatened to go on strike on May 20 against their proposed merger with parent

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