According to State Bank of India (SBI) chief Arundhati Bhattacharya’s latest statement, SBI’s merger with its 5 subsidiaries will strengthen and boost its share of the market tremendously.
SBI will be three times bigger than its most adjacent competitor once the merger take place, Bhattacharya said.
She also stated, the move will also bring down several costs.
The SBI chief hoped that the approval from the government will come in a month’s time and said it will take around 6 months to complete the merger.
She said that once the government gives its in-principle approval, discussions with bank unions will take place and their concerns in connection with the proposed merger will be tackled.
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