State Bank of India Approves Merger Plan with Associate Banks 

State Bank of India’s board approved the merger of associate banks with itself, in a move that would make the government-owned lender a global-sized bank.

The transaction is subject to approval from the Reserve Bank of India and the government, SBI said in a press release.

Merger Contours

Here’s the merger ratio that’s been approved by the board.

• SBI to issue 28 shares for every 10 shares of State Bank of Bikaner & Jaipur
  
• SBI to issue 22 shares for every 10 shares of State Bank of Mysore
  
• SBI to offer 22 shares for every 10 shares of State Bank of Travancore
  
• SBI to issue 4.42 crore shares for every 100 crore shares of Bharatiya Mahila Bank

The cabinet had approved the merger of associate banks with SBI on June 15.