State Bank of India (SBI), the country's largest bank by assets, is planning to merge one of its five banking subsidiaries with itself in this financial year. SBI, in total, has five banking subsidiaries, viz, State Bank of Bikaner & Jaipur, State Bank of Mysore and State Bank of Travancore, State Bank of Hyderabad and State Bank of Patiala.
The bank in past has merged State Bank of Indore and State Bank of Saurashtra with itself. The merger will take SBI a step closer to being in the top global banks' list, where large state-run Chinese banks have been positioned. However, this merger would not be an easy task given that such proposal will be fiercely protested by its employees.
