State Bank Of India

State Bank of India (SBI) is reportedly expecting to get Reserve Bank of India’s (RBI's) approval for the detailed merger plan of its associate banks. The detailed merger plan, including financial implications, HR and asset-liability issues are being vetted by the RBI. The approval from the central bank is expected soon.

The scheme of acquisition of all five associates along with the report of the expert committee has been submitted to RBI for approval. Upon approval, RBI will submit the scheme of acquisition as approved by it to the Government of India for approval and issue of order of acquisition.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc.