Mumbai: In a board meeting today afternoon of the State Bank Of India, the board of directors discussed the possibility of acquiring its associate banks, including assets and liabilities. This discussion is purely exploratory at this stage and not certain. A proposal seeking an in-principle approval to start negotiations with associate banks will be submitted to the central government. SBI’s associate banks include State Bank Of Bikaner & Jaipur, State Bank Of Hyderabad, State Bank Of Mysore, State Bank Of Patiala and State Bank Of Travancore.
In addition to these 5 banks, the SBI board members also discussed the possibility of acquiring India’s first bank targeted to women – Bhartiya Mahila Bank (BMB). SBI would explore this acquisition once the central government gives an in-principle approval to start negotiations with BMB.
