Government is yet to notify the merger of Bharatiya Mahila Bank with SBI

429

Government is yet to notify the merger of Bharatiya Mahila Bank (BMB) with State Bank of India.

The bank had before reported that that the Government of India has affirmed the merger of Bharatiya Mahila Bank (BMB) with State Bank of India, Bureaucracy Today has learnt.

“A formal warning in such manner is anticipated from Government of India”, SBI said in an updated correspondence to the media.

In an official statement issued on 20.03.2017 by the Finance Ministry, it was reported that the Government of India has endorsed the merger of Bharatiya Mahila Bank (BMB) with State Bank of India.

In spite of the fact that the expansion of 103 branches of BMB and business of roughly Rs. 2000 crore would not have noteworthy effect on the branch system and business levels of SBI, it will be guaranteed that the merger fortifies and strengthens SBI’s attention on financing of women entrepreneurs people keeping in mind the end goal to satisfy the destinations behind setting up of Bharatiya Mahila Bank.

Incidentally, it may not be out of place to mention that SBI has got an exposure of more than Rs 46,000 crores to women customers segment of the Bank.

NO COMMENTS