SBI, associate banks gain after Cabinet okays merger

SBI, bank, state bank, state bank of india

Latest News – Shares of SBI and its associates ended the day with as much as five per cent gains today after the Cabinet approved their merger, a step aimed at strengthening the sector through consolidation of public banks.

The scrip of State Bank of Mysore jumped 4.66 per cent, State Bank of Travancore gained 4.21 per cent, State Bank of Bikaner rose by 3.48 per cent and SBI was up 0.65 per cent on BSE.
During the day, these stock went up by up to 13.5 per cent.

Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates.

However, no decision was (Read More)

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