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On Wednesday, the Union Cabinet has provided its approval to the merger of five associate banks- State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad as well as Bharatiya Mahila Bank with State Bank of India.
State Bank of Travancore MD CR Sasikumar, welcoming the move said that it will be a great benefit to the customer.
State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Travancore among the 5 banks, are listed.
The merger will be creating Rs 37-lakh crore banking behemoth with over 50 crore customers.
