Telangana against merger of State Bank of Hyderabad with SBI

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Hyderabad | August 17, 2016 5:59 PM

Telangana government is against the proposed merger of State Bank of Hyderabad with the parent SBI, state's Finance Minister Etela Rajender said today.

"SBH should retain its identity. It is a Telangana bank. It has to remain that way," the minister told PTI. (Source: Facebook)“SBH should retain its identity. It is a Telangana bank. It has to remain that way,” the minister told PTI. (Source: Facebook)

Telangana government is against the proposed merger of State Bank of Hyderabad with the parent SBI, state’s Finance Minister Etela Rajender said today.

“SBH should retain its identity. It is a Telangana bank. It has to remain that way,” the minister told PTI.

“It was in existence even before 1956… it belonged to the (erstwhile) Hyderabad state… in Nizam’s era,” Rajender added.

Asked if there is a proposal to pass a resolution in the legislative assembly opposing the move, similar to Kerala adopting a motion against State Bank of Travancore’s merger with SBI, he said he hasn’t yet talked to the Chief Minister K Chandrasekhar Rao on the issue.

“We have to take some decision (in formally opposing SBH’s merger with SBI)”, Rajender added.

The Union Cabinet had recently given its nod for the merger of five associate banks of SBI, including SBH and SBT, with the parent lender, along with the Bharatiya Mahila Bank.

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