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SBI forms team to look after its merger

sbiState Bank of India has formed an internal team to prepare a framework for amalgamation of five associate banks with itself, a report suggested. A team of 15-20 members has been set up and it has started working on the framework for the merger. The team is headed by a general manager and there are a few deputy general managers. The team has been formed under the supervision of associate and subsidiaries department, which is being headed by managing director V G Kannan, the report said. The bank plans to merge all the five associate banks with it at same time. As the subsidiaries and SBI have same technology platform, SBI thinks it will not be a difficult process to merger the all the associates with it at the same time.

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