SBI to initiate merger process from November

SBI, Arundhate Bhattacharya
SBI hopes to kick off the merger of its associates as well as Bharatiya Mahila Bank with itself by from November and try to complete the process by next March, making it the 45th largest lender globally in terms of assets.
“The merger process will start by end-October. The grievance committee will come back to us hopefully by the end of this month, thereafter we have to send it to the Reserve Bank and then to the government for the final approval, which may probably take a month. Post which the merger can take place,” SBI chairman Arundhati Bhattacharya told a wire agency.

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