SBI Seeks Government Nod for Associate Banks Merger

New Delhi:18/5/16-SBI the top state-run lender proposed Tuesday merger of its five associate banks and newly created Bharatia Mahila Bank with itself and sought the government’s approval for the same, triggering consolidation in the public sectorbanking space. SBI is seeking “in principle sanction” of the centre to enter into negotiation with the subsidiary banks and Bharatia mahila Bank to acquire their business.