How many associate banks merged with State Bank of India (SBI) in 2017?
5
Understanding the SBI Merger in 2017
The question asks about the number of associate banks that merged with the State Bank of India (SBI) in the year 2017. This was a significant event in the Indian banking sector.
SBI Associate Banks Merger Details
In 2017, several associate banks of SBI, along with another entity, were merged into the main State Bank of India. The primary goal was to consolidate the banking structure and create a stronger, larger entity.
Specifically, five associate banks were part of this merger:
- State Bank of Bikaner & Jaipur (SBBJ)
- State Bank of Hyderabad (SBH)
- State Bank of Mysore (SBM)
- State Bank of Patiala (SBP)
- State Bank of Travancore (SBT)
In addition to these five associate banks, the Bhartiya Mahila Bank (BMB) was also merged with SBI at the same time, effective from April 1, 2017.
Therefore, when considering the associate banks that merged with SBI in 2017, the correct number is five.
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