 "SBI, State Bank of India")
State Bank of India has compressed the deadline for branch rationalisation by one year to September 2017 and finish redeployment of staff by December.
Presenting a report card on merger trajectory, SBI chairman Arundhati Bhattacharya said 594 branches merged till August 6 and expect to achieve branch merger target by end of September 2017.
Bank has the technical capacity and given the current pace of merger of branches, it’s possible to accelerate the process, said its managing director (associates and subsidiaries) Dinesh Khara.
The bank expects savings from rationalisation of branch and administrative offices in excess of Rs 1,160 crore per annum. Bank
