STATE BANK OF INDIA - Clarifies on News Item

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11 Jun 2014
With reference to the news item appearing in a leading financial daily titled "Banking Behemoth: SBI to Merge 5 Arms with itself", State Bank of India has Clarified to BSE as under:<br/><br/>"As regards a news item regarding merger of Associate Banks of State Bank of India, we clarify that no such proposal has been formally taken up for approval. While the Bank has always had plans to consider merger of the Associate Banks, eventually, a position which has been stated by the Bank from time to time since long, the matter had not been under active consideration for quite some time. Going forward, the Bank may examine the merger options afresh, when considered appropriate, but preparation of a possible roadmap would take a few months."
View all announcements for STATE BANK OF INDIA	Source: BSE India

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