​​​
  1. Assembly to pass unanimous resolution against SBT-SBI merger

Assembly to pass unanimous resolution against SBT-SBI merger

The Kerala Assembly today decided to pass a unanimous resolution against the proposed merger of State Bank of Travancore (SBT) with State Bank of India.

By: | Thiruvananthapuram | Published: June 29, 2016 9:31 PM
SBI Last month, SBI had cleared a proposal for merger of subsidiary banks and Bharatiya Mahila Bank. It had sought the government’s approval for the same. (PTI)

The Kerala Assembly today decided to pass a unanimous resolution against the proposed merger of State Bank of Travancore (SBT) with State Bank of India.

Replying to a Calling Attention Motion of K Suresh Kurup (CPI-M), in the assembly, to urge the Centre to take steps to withdraw the merger decision, Finance Minister Thomas Issac said SBT has over 8,000 branches in Kerala and disburses maximum loans to farmers and small traders.

It also plays an effective role in government’s treasury related matters, he said.

ALSO READ: SBI to become a global top 50 bank in 9 months; here’s why

If the merger becomes a reality, Kerala would suffer, he said and suggested that the house pass a unanimous resolution against it.

Opposition leader Ramesh Chennithala said he agreed with the Minister’s views.

Assembly Speaker P Sreeramakrishnan asked Chief Minister Pinarayi Vijayan to move the resolution.

Last month, SBI had cleared a proposal for merger of subsidiary banks and Bharatiya Mahila Bank. It had sought the government’s approval for the same.

The country’s largest lender 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.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top