If you were an account holder the
associate bank, you will not have to register afresh.
An official said, 'Post-merger, an account can't be classified as standard in the books of one
associate bank and sub-standard for another
associate bank or parent bank.
In 2008 State Bank of India had merged another
associate bank, State Bank of Saurashtra, with itself.
It was part of rationalisation post merger of six
associate banks with itself.
State Bank of India (SBI) (NSE: SBI) has said that it cannot rule out write-offs on account of its merger with five
associate banks.
State Bank of India (SBI), which merged its five
associate banks - State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) - and Bharatiya Mahila Bank (BMB), earlier this month, is gearing up to offer seamless banking services to its non-resident Indian (NRI) customers.
Summary: State Bank of India seems to be biting off more than it can chew by merging five
associate banks with itself.
Opposing the central government's decision to merge State Bank of India's (SBI) five
associate banks with the former, around 45,000 employees of the
associate banks will strike on July 12, said a top official.
Associate banks of State Bank of India (SBI) (NSE: SBI) are to be merged.
New Delhi: State Bank of India said on Tuesday that customers of erstwhile
associate banks and those of Bharatiya Mahila Bank (BMB) will have to update their cheque books on or before March 31.
Global Banking News-September 23, 2016--IT integration of SBI and
associate banks to finish by December
