Question
With which bank was the Bharatiya Mahila Bank merged in 2017?
The correct answer is
State Bank of India
Bharatiya Mahila Bank Merger Details
The Bharatiya Mahila Bank (BMB) was a significant initiative aimed at empowering women financially.
In 2017, a major consolidation occurred within the Indian public sector banking space.
The Bharatiya Mahila Bank was officially merged with one of the country's largest financial institutions.
Key Event:
- Year: 2017
- Banks Involved: Bharatiya Mahila Bank (BMB) and State Bank of India (SBI)
- Outcome: The Bharatiya Mahila Bank was amalgamated into the State Bank of India.
This merger was part of a government initiative to consolidate public sector banks, aiming for greater efficiency and synergy. All assets and liabilities of BMB were transferred to SBI.
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