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State Bank of Saurashtra and State Bank of India to merge

Report from Asian News International brought to you by HT Syndication.

New Delhi, July 24 -- The Union Cabinet today gave its approval to the merger of the State Bank of Saurashtra with the State Bank of India to enable it to up-scale in terms of footprint, manpower and other resources.

The merger would also enable it to face competition arising from globalization of the economy, apart from augmenting efficiency and enabling better management of risk.

For the merger, the Union Cabinet today gave its approval to the following proposals:

i) to issue an order sanctioning the Scheme of ...

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