A New Dawn - Merger with State Bank of India

It was almost a new morning for all of associate bank's employees on 1st April 2017, when all remaining associate banks got merged with the parent bank i.e. State Bank of India. For information, initially State Bank of India was having 7 associate banks. Out of these seven banks, State bank of Indore (Indore Bank) and State Bank of Saurashtra (SBS) got merged officially with State Bank of India (SBI) on 26th August 2010 & 13th August 2008 respectively. The remaining Banks were State Bank of Patiala (SBP), State Bank of Bikaner & Jaipur (SBBJ), State Bank of Travancore (SBT), State Bank of Hyderabad (SBH) and State Bank of Mysore (SBM), which all got merged on 1st April, 2017. It was a thoughtful merger, having two shots in one go. First, Govt. wanted a world level bank from India. After this mammoth merger, SBI entered in the list of World top 50 banks and secondly SBI would be able to finance those big ventures, which it was unable due to its limited size. In addition to all these five, Bhartiya Mahila Bank (BMB) was also merged with SBI on 1st April 2017.