SBI Subsidiary Bank Merger Details
The State Banks (Repeal and Amendment) Bill, 2017 was passed by the Indian Parliament.
This bill's primary objective was to enable the merger of State Bank of India's (SBI) associate banks and the Bharatiya Mahila Bank with SBI itself.
Number of Banks Merged
The legislative action facilitated the consolidation of six subsidiary banks into the State Bank of India.
List of Merged Banks
- State Bank of Bikaner and Jaipur
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
- Bharatiya Mahila Bank
This strategic merger was completed effectively on April 1, 2017, consolidating the banking sector.
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