November 23, 2016 8:26 AM

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Banking Education Training & Research Academy files PIL against merger of SBI associate banks

In Maharashtra, Banking Education Training and Research Academy has filed a PIL in Aurangabad bench of the Bombay High Court against the merger of the associate banks of the State Bank of India.<br/><br/>The country's largest lender, SBI in August had approved the merger of its operations with five of its associate banks State Bank of Travancore, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Patiala and Mahila Bank.<br/><br/>Earlier in June, the government gave the go-ahead to merge SBI with its five associate lenders and Bharatiya Mahila Bank. The PIL will be heard on Friday by the Aurangabad Bench of Bombay High Court. <br/><br/>The PIL is filed stating, the individual identity of these banks including that of the State Bank of Hyderabad, which has a valuable contribution to the economy of Marathwada, would be wiped away.

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