Merger of State Bank of Indore with SBI on Schedule

The merger of State Bank of Indore with State Bank of India will take place as scheduled, said a finance ministry official.

It may be mentioned that the boards of SBI and State Bank of Indore agreed on the merger in June. But, the employees of State Bank of Indore were unsatisfied on many counts on the issue of merger and even held nation-wide strike.

An official, on condition of anonymity, said that the government has put on hold the merger of SBI’s other associate banks.

SBI has six associate banks and plans to take over all associates eventually.