Money & Banking

Decision on associate bank merger soon: Chaudhari

PTI Thiruvananthapuram | Updated on May 28, 2013 Published on May 28, 2013

Pratip Chaudhari   -  Business Line

State Bank of India Chairman, Pratip Chaudhari today said one of its associate banks would be taken up for merger during this quarter.

Talking to reporters after inaugurating the State of Bank of Travancore’s (SBT’s) community service activities here, he said it took two years for stabilisation after the merger of Bank of Saurashtra.

Discussions with banks and government were progressing on identifying the bank for merger, he said, adding that “we have not yet zeroed down any particular name so far”.

Strongly advocating for a single regulatory for loan services, Chaudhari said single regulatory for loans would benefit the consumer to a great extent.

“It is good to have uniform operating rules for loans,” he added.

To a question, he said SBT would be happy to be associated with Kerala government development projects such as metro rail and mono-rail schemes.

The State Bank of Travancore is having a liquidity of Rs 45,000 crore and “they are looking for avenues”, he pointed out. He also said SBT’s total deposits stood at Rs 85,000 crore and advances Rs 67,000 crore.

SBT Managing Director P Nanda Kumaran was also present at the press meet.



Published on May 28, 2013
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