, , ,

The Finance Minster Arun Jaitely has stated that he is expecting early govt. decision on the merger of the Associated Banks with the State bank of India.The Associate banks are State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad. Mahila Bank also will be merged.
SBI first merged State Bank of Saurashtra with itself in 2008. Two years later, State Bank of Indore was merged.
SBI has maintained since then that it would merge others as well but none of its moves fructified due to lack of capital (which was pegged at least Rs 2,000 crore each for per bank) and stiff opposition from employee unions.

The Bank Employees have strongly protested the merger move since it will neither improve the services nor improve the finance of the SBI.