India needs fewer and mega banks: Jaitley
In September 2018, the Alternative Mechanism, headed by Jaitley, gave in-principle approval for the merger of the three banks to create a global-sized lender.
Feb 18, 2019, 16:05 PM IST
You may have to update your cheque book soon. Here's why
State Bank of India said on Tuesday that customers of erstwhile associate banks and those of Bharatiya Mahila Bank (BMB) will have to update their cheque books on or before March 31. These five erstwhile associate banks and BMB had merged with SBI in April of 2017.
Mar 20, 2018, 22:26 PM IST
No proposal of PSB merger under consideration: Govt
To facilitate consolidation in the public sector banking space, the Cabinet in August gave in-principle approval for PSBs to amalgamate through an Alternative Mechanism (AM).
Jan 02, 2018, 18:38 PM IST
Cheque books of these banks to be invalid after December 31
In order to receive new cheque books, one can visit the nearest bank branch or can even use the ATM or mobile app.
Dec 27, 2017, 12:58 PM IST
Finance Ministry writes to heads of PSU banks on consolidation
A formal communication to CEOs of the banks from the Department of Financial Services last week has set in motion the consolidation process, a senior finance ministry official said.
Sep 03, 2017, 13:37 PM IST
Arun Jaitley introduces bill to repeal SBI Subsidiary Banks Act
Five associates and the Bharatiya Mahila Bank became part of State Bank of India (SBI) beginning April 1, catapulting the country's largest lender to among the top 50 banks in the world.
Jul 21, 2017, 18:15 PM IST
Initiative for merger should come from banks: Rangarajan
Recently, the State Bank Of India merged five associates with itself and the government is looking to consolidate few more with the objective of creating five global-sized lenders.
Jul 11, 2017, 16:22 PM IST
No assurance on write-offs due to merger: SBI
The country's largest lender SBI has said write-downs or write-offs on account of the merger of five associates cannot be entirely ruled out.
Jun 13, 2017, 16:35 PM IST
Govt may approve one more PSU bank consolidation by March
Enthused by the success of SBI merger, the Finance Ministry is considering clearing another such proposal in the public sector banking space by this fiscal end with a goal to create 4-5 global sized lenders.
Jun 09, 2017, 19:15 PM IST
SBI says 'future ready' with transaction speed of 15,000 per sec
SBI has attained the speed of 15,000 transactions per second as against the current utilisation of only 4,600/second, and is "future ready", the country's largest lender told its shareholders.
Jun 07, 2017, 20:27 PM IST
SBI to raise funds via FPO, QIPs; to appoint 6 merchant bankers
Country's largest lender SBI on Tuesday said it plans to raise funds through follow-on public offer and institutional placement in the current fiscal and has sought applications from merchant bankers for managing the issue.
May 09, 2017, 15:13 PM IST
BMB proved costly to run, merger with SBI to serve more people
Bharatiya Mahila Bank that served only women customers turned out to be a costly affair in view of its limited outreach but now its merger with SBI will help reach out to a wider clientele at the same cost.
Apr 11, 2017, 17:32 PM IST
SBI hikes minimum balance for savings a/c, other charges
SBI has started charging more from its millions of account holders, including those of the 6 lenders merged with it this month, for not maintaining minimum balance as well as for services like cheque books and lockers.
Apr 03, 2017, 19:09 PM IST
SBI sees cost savings, no bad loans surprise after merger with units
State Bank of India, the nation`s top lender by assets, expects no nasty surprises on bad loans after merging five subsidiary banks with itself at the weekend in a deal that will help it save costs and gain scale, senior executives said.
Apr 03, 2017, 15:34 PM IST
Bharatiya Mahila Bank to be merged with SBI from Apr 1
Bharatiya Mahila Bank (BMB) will be merged with the country's largest lender State Bank from April 1 to ensure greater banking outreach to women.
Mar 21, 2017, 22:55 PM IST
Bharatiya Mahila Bank to merge with SBI
The government on Monday said it has decided to merge the Bharatiya Mahila Bank (BMB) with the State Bank of India (SBI) to ensure greater banking services outreach to more women.
Mar 20, 2017, 19:36 PM IST
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.
Jan 02, 2017, 20:57 PM IST
SBI chief Arundhati Bhattacharya gets 1-year extension
Government has given one-year extension to SBI chief Arundhati Bhattacharya amid the lender's consolidation with its associate banks.
Oct 01, 2016, 17:51 PM IST
SBI merger: Associate banks to soon submit report on amalgamation to RBI
Government earlier this year cleared the proposal to merge SBI with its five associate banks -- SBBJ, State Bank of Travancore, State Bank of Patiala, State Bank of Hyderabad -- and the new Bharatiya Mahila Bank (BMB).
Sep 26, 2016, 18:16 PM IST
Arundhati Bhattacharya hopes to kick off SBI's mega merger by October-end
SBI hopes to kick off merger of its associates as well as Bharatiya Mahila Bank with itself by October-end and try to complete the process by March next, making it the 45th largest lender globally in terms of assets.
Sep 04, 2016, 14:04 PM IST
