CURRENT AFFAIRS

2017

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
SBI has merged its operations with its four associate banks and
A
Bharatiya Mahila Bank
B
United Bank of India
C
Bandhan Bank
D
City Union Bank
Explanation: 

Detailed explanation-1: -This brought into SBI the 50 largest banks in the world. These associate banks included State Bank of Jaipur, Bikaner, Mysore, Travancore, Hyderabad, and Patiala. The sixth bank was the Bharatiya Mahila Bank . Although the banks were merged, the shares of this associate were termed as individual entities.

Detailed explanation-2: -In 2017, State Bank of India merged with itself five of its associate banks–State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore, State Bank of Hyderabad, and State Bank of Patiala-along with Bharatiya Mahila Bank.

Detailed explanation-3: -In June 2016, the Cabinet approved the merger of State Bank of India (SBI) and five of its subsidiary banks to make it a global-sized bank. The merged entity will become a banking behemoth with an asset base of about Rs 37 lakh crore with 22, 500 branches and 58, 000 ATMs.

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