Paving the way for consolidation in the banking sector, the Competition Commission of India has approved the amalgamation of Bharatiya Mahila Bank into State Bank of India (SBI).
“Both the banks offer various banking products to their retail and corporate customers. However, while SBI has made deep inroads into the interiors of the country, Bharatiya Mahila Bank has only token presence with four to five branches in each State,” said the Competition Commission of India in its order.