The finance ministry is awaiting the law ministry's approval on the proposed merger of State Bank of Saurashtra (SBS) with State Bank of India (SBI), Financial Services Secretary Arun Ramanathan said on Tuesday.

<tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
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		</script> </DIV><p class='TableClas'>&#34We are awaiting the law ministry&#39;s report,&#34 Ramanathan said. Bhavnagar-based State Bank of Saurashtra is one of the seven associate banks of SBI. SBI owns 100 per cent stake in State Bank of Saurashtra, which has a strong foothold in Gujarat. 
</p><p class='TableClas'>The boards of the respective banks had approved the merger last year.
</p><p class='TableClas'>Shares of State Bank of India closed at Rs 1,668, up 0.28 per cent, on the Bombay Stock Exchange. </P></p><p class='TableClas'></p></table>


Law ministry nod for SBI-SBS merger awaited

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