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Article: State Bank of Indore recommends merger with SBI.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- June 19, 2009
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State Bank of Indore recommends merger with SBI
Mumbai, June 19 (PTI) Paving way for further consolidation of State Bank of India (SBI), State Bank of Indore today proposed merger of the bank with the parent SBI.
The decision comes a couple of weeks after Finance Minister Pranab Mukherjee asked public sector banks to look at consolidation as a serious option in order to reduce risks to financial stability and to face competition.
"The board of Directors of State Bank of Indore has passed a resolution recommending the merger or acquisition of State Bank of Indore with or by State Bank of India," SBI informed the Bombay Stock Exchange.
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