SBI has five associate banks—State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad. During 2015-16 public sector banks made recoveries of Rs.39,534 crore as compared to Rs.41,236 crore in the previous fiscal. New Delhi: Interest of the employees of five associate banks will be protected following their merger with the parent entity State Bank of India, finance minister Arun Jaitley said on Friday. “SBI has informed that the interest of the employees of the subsidiary banks will not be affected. In a separate reply, minister of state for finance Santosh Kumar Gangwar said out of 27 public sector banks, 14 have posted losses.

Source: Mint July 22, 2016 15:36 UTC