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Center approves SBI-State Bank

Started by sajiv, Aug 16, 2008, 03:20 PM

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In Mumbai the process of merger of associate banks with the State Bank of India, amidst stiff opposition from employees union, had been given a green signal by the Union finance Minister with the Department of Financial Services passing an order to enable SBI to acquire State bank of Saurashtra.

According to a SBI information to the BSE,
the merger would come into effect on the effective date as may be notified in the official Gazette by the Union Government.