One of five subsidiaries of State Bank of India (SBI) will be merged with it in this fiscal, the leading Indian bank said on August 27. Firt, it merged with it its associate State Bank of Saurashtra in 2008. Two years later in 2010, State Bank of Indore was merged with SBI.
State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad are the five associate banks of SBI. Among these, State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Travancore are listed entities.
The bank said that it has requested the government a fund infusion to the tune of Rs 4,000 crore. Last fiscal, the bank got Rs 3,004 crore fund support from the government.