SBI Merger

The Indian Parliament has passed a bill, called as State Banks (Repeal and Amendment) Bill, 2017 to merge six subsidiary banks with State Bank of India. The bill repeals two Acts, State Bank of India (Subsidiary Banks) Act, 1959, and State Bank of Hyderabad Act, 1956 which had established SB Bikaner, Patiala, Mysore, Hyderabad and Travancore, resulting in merger of these banks with SBI.