State Bank of India chairman Pratip Chaudhuri, retiring by the end of this month, has left the decision on more merger of associate banks to his successor.
In her first formal interaction with journalists after becoming chairperson, Arundhati Bhattacharya said the bank’s Asset/Liability Committee will take a final decision on cutting or raising rates. On consolidation within the group, she said the merger of associate banks was a long process. It also needed capital and half the financial year was over. The process might start this year but completion might not take place. Pratip Chaudhuri, her predecessor, had left the decision in this regard to his successor.
Earlier, it had been stated that SBI was to announce in September the name of the next associate bank it would be merging with itself. A panel headed by A Viswanathan, managing director, for merger of the associate banks has given a report, preparing the groundwork and economic logic.
SBI has five associates — State Bank of Hyderabad, State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Mysore and State Bank of Patiala. Two others, State Bank of Indore and State Bank of Saurashtra, were merged with SBI in 2008 and 2010, respectively.
The new chairperson has also proposed removing the cap of two transfers on ‘spouse grounds’ for both female and male employees. She is also considering introducing a longer sabbatical (leave on loss of pay) for employees, especially women, similar to the scheme she introduced in SBI Caps, when she was heading it. At present, SBI Capital offers leave without pay for up to six years.
In her first formal interaction with journalists after becoming chairperson, Arundhati Bhattacharya said the bank’s Asset/Liability Committee will take a final decision on cutting or raising rates. On consolidation within the group, she said the merger of associate banks was a long process. It also needed capital and half the financial year was over. The process might start this year but completion might not take place. Pratip Chaudhuri, her predecessor, had left the decision in this regard to his successor.
Earlier, it had been stated that SBI was to announce in September the name of the next associate bank it would be merging with itself. A panel headed by A Viswanathan, managing director, for merger of the associate banks has given a report, preparing the groundwork and economic logic.
SBI has five associates — State Bank of Hyderabad, State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Mysore and State Bank of Patiala. Two others, State Bank of Indore and State Bank of Saurashtra, were merged with SBI in 2008 and 2010, respectively.
The new chairperson has also proposed removing the cap of two transfers on ‘spouse grounds’ for both female and male employees. She is also considering introducing a longer sabbatical (leave on loss of pay) for employees, especially women, similar to the scheme she introduced in SBI Caps, when she was heading it. At present, SBI Capital offers leave without pay for up to six years.
state bank of saurastra merge in 2008 and state bank of indore in 2010 with sbi
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