With Cabinet’s approval of merger of PSBs, SBI may soon feature in the top 50 banks globally
| June 16, 2016
As the Cabinet approves the merger of State Bank of India and its five subsidiaries, and also the Bharatiya Mahila Bank (BMB), the largest public sector lender may soon see its name in the list of top 50 banks of the world. The five subsidiaries to be merged with SBI are: State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore.
Here’s a look at the enormity of the consolidation:
• With the merger, SBI would have a balance sheet reading a whooping Rs 37 lakh crore.
• Its customer base would increase to around 50 crore – more than one-third of the country’s population
• The bank may break the barrier of top-50 banks in the world. It was last seen at the 52nd spot in 2015.
• The combined employee strength of SBI and its associates, along with BMB, is around 3 lakh.
• The combined number of branches of banks, stepping into the merger, stand at nearly 21,000.
The USA declaring Hizbul Mujahideen chief Syed Salahuddin as a specially designated global terrorist may not take the sting out of terrorists’ plans in Kashmir immediately but it has given a huge setback to Kashmiri separatists who had always hoped for American intervention in the Indo-Pak standoff o
Vani Jairam’s childhood dream of becoming a playback singer was realised when veteran film music composer Vasant Desai gave her the opportunity to sing Bole Re Papi Hara and two other songs in the movie Guddi. After that, the multilingual singer went on to sing for eminent music per
Should there be death penalty for those involved in lynching?
On May 23 this year, the ministry of environment issued ‘Rules on prevention of cruelty to animals (regulation of livestock market)’ with the purported aim of regulating animal markets. When one reads the rules – notwithstanding the lame efforts from union ministers to issue clarificati
BEML, a mini ratna category-1 enterprise of the defence ministry, has set a target of using 100 percent renewable energy for its own consumption. In this connection, BEML’s 9 MW Windmill Park installed at Bagalkot District in Karnataka was recently
Bharat Heavy Electricals Limited (BHEL), a Maharatna enterprise, has recorded nearly 14 percent growth in its intellectual capital in 2016-17 fiscal. During the year, a record 508 patents and copyrights were filed by the company, translating into filing of nearly two patents/copyrights