Merger of State Bank of India (SBI) with its associates is likely to be completed within this fiscal, its Managing Director (National Banking Group), Rajnish Kumar, said.
According to him, integrating the balance sheets of SBI and its associates is a much simpler process; as they share the same IT platform.
However, there will be “some issues’’ when it comes to merger of HR practices, policies and so on.
“These will be sorted out over a period of time,’’ he said, adding that SBI has already made two mergers previously and is aware of the nitty-gritties.
Kumar was speaking at a banking colloqium organised by the Confederation of Indian Industry (CII) here in the city.