SBI Chairman says not looking at group consolidation for now - Business Line
Merging of the seven associate banks with the parent State Bank of India has been a live issue for over decades. Some times, the managements and Officer staff were in favour but not the trade unions. However, in last few years, SB Indore and SB Saurashtra were merged with SBI and now five more are in the waiting. The Finance Ministers keep announcing about consolidation of public sector banks but it never happened except the above. Government and RBI also should spell out their policy on these matters to give a proper direction instead of leaving to the respective managements. Pros and Cons of such mergers be spelt out and announced by means of a white paper to the public, customers, trade unions, and other stake holders and a final time-bound program be drawn. Only then, our PSBs can grow to the level of global standards like banks in China or Japan.