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Our Bureau

New Delhi, Jan. 29 The proposed consolidation of State Bank of Saurashtra (SBS) with the State Bank of India may come up for Cabinet approval next week.

Official sources said that the proposal is likely to be taken up next week by the Cabinet. Indications are that the proposal would relate to merger of SBS with SBI.

This is even as the SBS board had recently altered its board resolution to pave the way for eventual acquisition of SBS by SBI.

Already, the bank unions and certain members of Parliament have opposed consolidation within the SBI Group.

More Stories on : Mergers & Acquisitions | Policy | State Bank of India

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