SBI will get merged with its five associate banks from 1st April 2017. SBI is the largest bank in India and now after this merger it will become largest consolidation in Indian banks’ history.
The merger will be made among State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore, State Bank of Patiala and State Bank of Hyderabad, further merging of another state-run creditor Bhartiya Mahila Bank into SBI is not finalised till this time.
After this big merger SBI is anticipated to become one of the upper 50 banks in the world with a huge balance sheet size of over Rs 32 lakh crore . SBI after merger will have 22,500 branches and 58,000 ATMs. The customer base will grow to 50 crore.