SBI in News
Approvals for State Bank of Indore merger by July : SBI
Business Standard
Monday, June 21, 2010
State Bank of India has said all the regulatory approvals for the merger of State Bank of Indore with itself will be in place by next month. We are awaiting approval from the government of India, which is expected any time, may be this month or next months. After that, it takes about a month to merge it, SBI Chairman O P Bhatt said. The bank has already got approval from Reserve Bank of India. Last year, the central board of the bank gave approval for the merger. Following this, the government also gave in-principle approval for the proposal. SBI holds a 98 per cent stake in State Bank of Indore.
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