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Article: India: Cabinet okays SBI, State Bank of Saurashtra merger.
- Article from:
- TendersInfo
- Article date:
- July 27, 2008
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Byline: sander03
the Left parties no longer in the picture and new allies coming into its fold, the UPA Government has been encouraged to take a legislative route to facilitate State Bank of India s (SBI) acquisition of State Bank of Saurashtra (SBS), the smallest of its associate banks.
The Union Cabinet on Thursday gave its nod for issuing an order sanctioning the acquisition transaction under the aegis of State Bank of India Act, 1955. It also approved the introduction of a Bill in Parliament for repealing the State Bank of Saurashtra Act, 1950.
The merger of State Bank of Saurashtra with State Bank of India (SBI) would enable it to scale up ...