No plan for SBI to take over state banks

No plan for SBI to take over state banks

New Delhi: There is no proposal for government-run State Bank of India (SBI) to take over any other state bank, minister of state for finance Namo Narain Meena said on Tuesday.

“... at present there is no proposal before the government for merger of any nationalised bank with the SBI, Meena said in a written reply to a MP’s question in Parliament.

He said the government would not push for mergers between banks but would support any proposal from the boards of the banks.

State Bank, India’s largest lender, has said it plans to absorb its six associate banks but has met with union and political opposition. It is in the process of absorbing unlisted State Bank of Indore.

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