2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bank of India
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State Bank of India
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Bank of Baroda
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SBI
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Detailed explanation-1: -Mumbai: The cabinet on Wednesday approved the proposed merger of State Bank of India (SBI) and five subsidiaries-a combination that will create the first Indian lender to rank among the world’s top 50.
Detailed explanation-2: -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-3: -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-4: -The associate banks include the likes of State Bank of Mysore (SBM), State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Travancore (SBT), and State Bank of Patiala (SBP).
Detailed explanation-5: -Biggest Bank Gets Bigger SBI expected the merger to help drive synergies, reducing duplication and save on resources. They together contributed about 15 percent to SBI’s total Rs 20.44 lakh crore loans and nearly 20 percent to Rs 27.06 lakh crore deposits as of March.