NEWS & ADVICE : HOME LOANS
Bhatt says SBI merger with subsidiaries, a long term process
By Joseph Samson
Mar 15, 2011
Print    Email    RSS   

The country's largest lender, State Bank of India is in plans to merge all its remaining subsidiaries to itself. However, it is not a thing that will happen in a short span, indicated the chairman of the bank, Mr O P Bhatt.

He said that although there are no hurdles to the process, but certain steps are required to be followed and done before the process completes successfully.

So far two of the subsidiaries of SBI have been merged to itself and the process has taken 2-3 years time. So the remaining mergers are likely to take another 3-5 years.

Speaking on new banking licenses to be given out for setting new banks in the system, he said that the step would aid in the economy's growth. He also said that there is ample space for each bank to grow even after the inclusion of new entrants.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
IBA to push for MIBOR as the benchmark rate
A chronicle of excesses by loan recovery...
Carnival of Indian Personal Finance Blogs#10
The right age for home loans!
Know your home loan better


PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive