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Article: SBI awaits govt approval on merger of State Bank of Saurashtra.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- July 11, 2008
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SBI awaits govt approval on merger of State Bank of Saurashtra
New Delhi, July 11 (PTI) State Bank of India today asserted that there is no delay in the merger of its associate SBS with itself and is awaiting the Cabinet approval for the same.
"We are awaiting government clearance. State Bank of Saurashtra merger is in the pipeline and there is no delay. Once we get clearance, it could be done within three months," SBI Chairman O P Bhatt told reporters here.
The Law Ministry has already given a go ahead to the merger of State Bank of Saurashtra with its parent entity.
According to sources, as per the advice of the Law Ministry, SBI Act ...