The Hindu Business Line : SBI, State Bank of Saurashtra merger

The merger of State Bank of Saurashtra with the State Bank of India is likely to be completed in three months, said Mr O.P. Bhatt, Chairman, State Bank of India. He was speaking to reporters on the sidelines of the second RK Talwar Memorial Lecture. Mr Bhatt said that this merger would help the group understand the dynamics of the merger process.

The Union Cabinet on Thursday gave its official nod to the acquisition of SBS under the State Bank of India Act, 1955. It also approved the introduction of a bill in parliament to repeal the State Bank of Saurashtra Act, 1950. The boards of both SBI and SBS had given their approval to the merger in August 2007. SBI's unions have, however, been firmly against the merger. - Our Bureau

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SBI, State Bank of Saurashtra merger