Cabinet to take up SBS-SBI merger next week

According to sources in the Finance Ministry, the Union Cabinet, undeterred by a countrywide strike last Friday, is likely to take up next week the proposal for merger of State Bank of Saurashtra (SBS) with the State Bank of India (SBI).

While boards of both banks had approved the merger plan, bank employees went on one-day strike protesting the move.

State Bank of Saurashtra is one of the seven associate banks of SBI.