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Central government exploring merging of Mahila Bank with SBI?!
Posted on: 01/Jul/2015 3:27:11 PM
Information is gathered that ‘Bharath Mahila Bank, started 20 months ago is likely to merged with State Bank of India.
Bharathiya Mahils Bank was the brain-child of the former Finance Minister, Mr. P. Chidambaram.
It was started with an investment of Rs. 1000 Crores. It has around 62 branches in the country.
The bank was started with the aim of according due priority to women in the country.
Now, information is gathered that the central government is exploring the possibility of merging Bharathiya Mahila Bank with State Bank of India.
Head of the State Bank of India, Ms. Arundhathi Bhattacharya informed that she is not aware of any such plans.
It seems that central government is strongly pursuing the idea of merging several banks into a single entity to compete with other large banks in the world.
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