State run SBI to merge with 5 associate banks, Bharathiya Mahila Bank

Q.  SBI is merging its five associate banks and which other bank with itself?
- Published on 18 May 16

a. Punjab National Bank
b. Bharathiya Mahila Bank
c. OCI Bank
d. UCO Bank

ANSWER: Bharathiya Mahila Bank
 
SBI will merge five associate banks along with Bharathiya Mahila Bank according to a press release. SBI has given in principle approval for the bank to discuss the chance of acquiring associate banks. The 5 associate banks are State Bank of Travancore, State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner and Jaipur and State Bank of Patiala.
  • BMB was created in 2013 to cater to women’s lending needs.
  • Associate banks have fixed assets worth INR 4000 crore and lending costs reduced by 100 basis points within a year post this merger.

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