The finance ministry, according to an official, “will soon undertake a broad study on further consolidation and look at various options for merger among the remaining 21 public sector banks”. “As many have pointed out, it is not clear that we need so many public sector banks. State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT), besides BMB, were merged with SBI. SBI first merged State Bank of Saurashtra with itself in 2008. Two years later, State Bank of Indore was merged with it.

Source: Mint April 30, 2017 04:30 UTC