Associate Bank

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Associate Bank

A bank that belongs to a network of organizations that provides benefits for all members. For example, many banks are associate banks for Visa, which provides debit card and credit card services for these banks. Banks may pay to be associated with such ventures.
References in periodicals archive ?
State Bank of India (NSE: SBI), considered to be the biggest bank in India, and its five associate banks, had a wilful defaulter list of about 1,628 people who owe INR168.
His responsibilities will include advising the Board as well as representing Commercial Bank on the Board and Board Committees of the subsidiary and associate banks, Alternatifbank in Turkey, United Arab Bank in the UAE and National Bank of Oman in Oman.
The services of empanelled Vendors will be also used by Associate Banks.
India-based State Bank of India (NSE: SBI), considered to be the biggest bank in India, has said that its associate banks do not need fresh capital injections this year.
Contract awarded for purchase required goods to associate banks of welfare service (sol.
The bank may also decide not to merge all of its five associate banks, allowing some of them to continue in their existing structure.
Raj Kumar, General Secretary, Associate Banks Officers Association, SBT unit; and K.
An official with the bank said, 'Whenever merger takes place, SBI will have to set aside additional funds to meet superannuation cost for the associate banks staffs.
State Bank of India will be appointing 7,740 clerks to work in its associate banks.
State Bank of Patiala, one of the five associate banks of India-based State Bank of India (NSE: SBI), has said that it would merge with its parent this fiscal.
State Bank of India declared that it intends to introduce "Lead Management System" (LMS) for its associate banks to draw more customers.
In a statement, the firm said that a plan to merge associate banks with itself was not under active consideration.
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