{"id":9605,"date":"2017-04-04T12:43:17","date_gmt":"2017-04-04T12:43:17","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=9605"},"modified":"2017-04-06T06:39:21","modified_gmt":"2017-04-06T06:39:21","slug":"sbi-associate-banks-public-sector-banks-mega-merger-all-you-need-to-know-key-points-gk-current-affairs-exams","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/sbi-associate-banks-public-sector-banks-mega-merger-all-you-need-to-know-key-points-gk-current-affairs-exams\/","title":{"rendered":"SBI Mega Merger &#8211; Now Among Top 50 Banks of The World"},"content":{"rendered":"<p><span style=\"color: #000000;\">The State Bank of India has been in the news off late and for all the right reasons. Post 1 April, 2017, the State Bank of India, which is currently the largest Indian bank will also be one among the 50 largest banks in the world. <\/span><\/p>\n<p><span style=\"color: #000000;\">The prestigious bank has been able to achieve this remarkable feat by merging with its associate banks. In this post, we bring to you all the information you need to know about this mega merger.<\/span><\/p>\n<h6><span style=\"text-decoration: underline; color: #000000;\"><strong>A Little History<\/strong><\/span><\/h6>\n<p><span style=\"color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-9606 alignleft\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2017\/04\/SBI-Merger.png\" alt=\"SBI Merger SBI SBI SBI PO General Knowledge current affairs Banking government economics finance upsc ias exam preparation mock tests free mocks exam test prep\" width=\"397\" height=\"351\" \/><\/span><\/p>\n<p><span style=\"color: #000000;\">As per the State Bank of India (Subsidiary Banks) Act passed in 1959, the\u00a08 state banks of the erstwhile princely states, were made the associates banks of the SBI. The government integrated these banks into the State Bank of India system to expand its rural outreach.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">There has been a proposal to merge all the associate banks into SBI to create a &#8220;mega bank&#8221; and streamline the group&#8217;s operations for quite some time now.<\/span><\/p>\n<p><span style=\"color: #000000;\">And the first step towards this unification occurred on 13 August, 2008 when <a style=\"color: #000000;\" title=\"State Bank of Saurashtra\" href=\"https:\/\/en.wikipedia.org\/wiki\/State_Bank_of_Saurashtra\" target=\"_blank\">State Bank of Saurashtra<\/a> merged with SBI, reducing the number of associate state banks from seven to six. On 19 June, 2009, the SBI board approved the absorption of <a style=\"color: #000000;\" title=\"State Bank of Indore\" href=\"https:\/\/en.wikipedia.org\/wiki\/State_Bank_of_Indore\" target=\"_blank\">State Bank of Indore<\/a>.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">Though this merger approval had faced a lot of opposition on accounts of employees loosing jobs, the Cabinet has finally approved of it. And with this the SBI, is all set to\u00a0to enter the list of the <strong>world\u2019s 50 largest banks<\/strong>.\u00a0<\/span><\/p>\n<h6><span style=\"text-decoration: underline; color: #000000;\"><strong>The Mega Merger<\/strong><\/span><\/h6>\n<p><span style=\"color: #000000;\">The State Bank of India, post merger is a combined entity comprising of:-<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">State Bank of Bikaner &amp; Jaipur (SBBJ)<\/span><\/li>\n<li><span style=\"color: #000000;\">State Bank of Patiala (SBP)<\/span><\/li>\n<li><span style=\"color: #000000;\">State Bank of Travancore (SBT)<\/span><\/li>\n<li><span style=\"color: #000000;\">State Bank of Mysore (SBM)<\/span><\/li>\n<li><span style=\"color: #000000;\">State Bank of Hyderabad (SBH)<\/span><\/li>\n<li><span style=\"color: #000000;\">Bhartiya Mahila Bank (newly created, not an associated bank)<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">This combined entity would rank 45th in the list of the world&#8217;s largest banks. The total customer base of the bank will reach 37 crores with a branch network of around 24,000 and nearly 59,000 ATMs across the country. The merged entity will have a deposit base of more than Rs. 26 lakh crore and advances level of Rs. 18.50 lakh crore.<\/span><\/p>\n<p><span style=\"color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-9607\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2017\/04\/SBI-Mega-Merger-SBI-SBI-PO-SBI-Bank-Current-Affairs-GK-General-Knowledge-UPSC-Banking-Career.jpg\" alt=\"SBI Mega Merger SBI SBI PO SBI Bank Current Affairs GK General Knowledge UPSC Banking Career \" width=\"636\" height=\"466\" \/><\/span><\/p>\n<p><span style=\"color: #000000;\">The question arises that why was this merger proposed. Here are a few things that should be considered :-<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\">The merger will lead to greater operational efficiency and synergy of operations. Also, it would lead to reduced\u00a0costs of operations. This in turn will lead to a decrease in the cost of funds.<\/span><\/li>\n<li><span style=\"color: #000000;\">It will also minimize the vulnerability to any geographic concentration risks faced by associate banks.<\/span><\/li>\n<\/ul>\n<h6><span style=\"text-decoration: underline; color: #000000;\"><strong>What Will Be The Impacts of This Mega Merger?<\/strong><\/span><\/h6>\n<div class=\"story-elements\" data-story-element-id=\"576a7368-aaae-4264-9274-fff489c63d42\" data-story-element-type=\"text\">\n<div class=\"story-element story-element-text\">\n<p><span style=\"color: #000000;\">Following are some important points regarding the merger:-<\/span><\/p>\n<p><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/www.oliveboard.in\/sbi-po\/?ref=blog\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-9565\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2017\/03\/Banner5.png\" alt=\"Banking Government Exams MBA Exams Free Mock Tests Free Exam Preparation Free tests Mock Tests All India Mock Tests SBI PO Exam IBPS PO Exams Bank Logo Bank Logos Banking Sector Oliveboard Quiz Daily Quiz Fun Quiz\" width=\"728\" height=\"90\" \/><\/a><\/span><\/p>\n<\/div>\n<\/div>\n<div class=\"story-elements\" data-story-element-id=\"0316471b-eb15-4cd3-aa52-b67bcb7e719e\" data-story-element-type=\"text\">\n<div class=\"story-element story-element-text\">\n<p><span style=\"color: #000000;\"><b>&#8211;\u00a0<\/b>As a result of the merger, the bank will have a larger pool of deposits which will benefit the consumers in the long run. With better asset and wealth management, risk practices and innovation, <strong>customer pricing will be lower<\/strong>.<b><br \/>\n<\/b><\/span><\/p>\n<p><span style=\"color: #000000;\"><b>&#8211;\u00a0<\/b>As overheads get consolidated in one bank, the bank will become leaner and meaner. This will enable <strong>cheaper services for customers<\/strong> and <strong>higher margins for the bank<\/strong>. Treasury and HR overheads are also expected to\u00a0come down significantly.<\/span><br \/>\n<span style=\"color: #000000;\"><b><br \/>\n&#8211; <\/b>Presently, the <strong>government holdings<\/strong> stand at 61.3%, which <strong>would come down<\/strong> to 59.7% once\u00a0the merger is completed. This will give the government headroom for a disinvestment of about Rs 10,000 crore.<\/span><\/p>\n<h6><span style=\"text-decoration: underline; color: #000000;\"><strong>Challenges To Be Faced By The State Bank Of India In The Merger Process<\/strong><\/span><\/h6>\n<p><span style=\"color: #000000;\"><b>&#8211; <\/b>The biggest challenge posed to this merger is by the human resources management.\u00a0<strong>Over-staffing<\/strong> is one of the key hurdles to the merger. The bank\u00a0has promised employees that no one will lose jobs, but bank unions and politicians continue to be doubtful.<\/span><\/p>\n<\/div>\n<\/div>\n<p><span style=\"color: #000000;\">&#8211;\u00a0Post the merger, the <strong>cost-to-income ratio is estimated to\u00a0come down<\/strong> by 100 basis points a year. The cost-to-income ratio is nothing but the company&#8217;s costs in relation to its income. To get the ratio, operating cost of a company has to be divided by its operating income. Also, post the merger, SBI&#8217;s <strong>employee costs could rise<\/strong> by Rs 23 crore a month.<\/span><\/p>\n<p><span style=\"color: #000000;\">Despite these challenges, the government, for its part, is confident and has also unveiled a plan called \u201c<strong>Indradhanush<\/strong>\u201d to infuse Rs. 70 billion in state-owned banks over four years.<\/span><\/p>\n<p><span style=\"color: #000000;\">Stay tuned for more!<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The State Bank of India has been in the news off late and for all the right reasons. Post 1<\/p>\n","protected":false},"author":1,"featured_media":9612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,31,1212,60,33],"tags":[2076,2600,2602,1914,2597,2599,2504,2028,2605,2475,748,78,2261,2611,2307,2062,2598,2604,2596,2601,2603,111,2612,2609,2607,677,2606,2610,2608,2588],"class_list":["post-9605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-bank-exams","category-featured","category-general-knowledge","category-sbi-po","tag-apply-sbi-po","tag-arundhati-bhattacharya","tag-associate-banks","tag-bank-exam-current-affairs","tag-bank-mega-merger","tag-bank-merger-key-points-takeaways","tag-banking-and-economy","tag-banking-awareness","tag-bharatiya-mahila-bank","tag-finance-minister","tag-general-awareness","tag-general-knowledge","tag-general-knowledge-india","tag-indian-banking-system","tag-indian-economy","tag-probationary-officer-of-sbi","tag-public-sector-bank-merger","tag-sbi-associate-banks-merger","tag-sbi-banking-merger","tag-sbi-chaiperson","tag-sbi-history","tag-sbi-po","tag-sbi-po-banking-awareness","tag-state-bank-of-bikaner-jaipur","tag-state-bank-of-hyderabad","tag-state-bank-of-india","tag-state-bank-of-mysore","tag-state-bank-of-patiala","tag-state-bank-of-travancore","tag-upsc-cse-general-knowledge","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SBI Mega Merger - Now Among Top 50 Banks of The World - Oliveboard<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oliveboard.in\/blog\/sbi-associate-banks-public-sector-banks-mega-merger-all-you-need-to-know-key-points-gk-current-affairs-exams\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBI Mega Merger - Now Among Top 50 Banks of The World\" \/>\n<meta property=\"og:description\" content=\"The State Bank of India has been in the news off late and for all the right reasons. 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