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 ?
New Delhi: Cheque books of account holders of SBI Associate banks that include Bharatiya Mahila Bank, State Bank of Patiala, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore, and State Bank of Hyderabad will not work post December 31.
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.
With an intention to rationalise retail banking network the State Bank of India (SBI) will merge corporate finance branches of associate banks with parent branch and prepare detailed plan.
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.
Muscat: Proposed merger of State Bank of India (SBI), the largest Indian public sector bank, with its associate banks will not have any impact on its customers in Oman like in India, a senior official from the bank said.
He said, 'We will prefer to merge associate banks where SBI holds 100 per cent, rather than where the holding is less.
This is because the subsidiaries and associate banks are an integral part of State Bank of India's growth strategy.
Global Banking News-September 23, 2016--IT integration of SBI and associate banks to finish by December
On Tuesday, India's largest state-run lender, State Bank of India, announced that its board has discussed possibilities of acquiring its five associate banks, also to include assets and liabilities and even the Bharatiya Mahila Bank (BMB), which was established as first bank for women.
Associate banks of State Bank of India (SBI) (NSE: SBI) are to be merged.
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