Pradeep Shankar, former MD of
State Bank of Indore, says new probationary officers at SBI get four increments at the time of confirmation.
The basic objective of the study is to analyse the efficiency of bank mergers particularly that of big public sector bank, that is, State Bank of India by analyzing its mergers with two of its associates, viz., State Bank of Saurashtra and
State Bank of Indore. The purpose of the study is to compare the pre and post merger efficiency of acquirer bank, that is, State Bank of India.
In recent years, two of SBI's erstwhile associate banks, State Bank of Saurashtra and
State Bank of Indore, were merged with it.
1The rating pertains only to
State Bank of Indore's (SBoI's) fixed deposit programme rated by CRISIL, which has been transferred to SBI following the merger of SBoI with SBI.
"The Cabinet gave its nod to the merger of
State Bank of Indore with SBI.
New Delhi, July 15 (ANI): The Union Cabinet today approved the acquisition of
State Bank of Indore by State Bank of India (SBI).
It is for this reason that the present paper studies the impact of mergers and acquisitions on the financial performance of one public and one private sector bank in India particularly in the case of the merger of Bank of Rajasthan with the ICICI Bank on 13th August, 2010 and the merger of
State Bank of Indore with the State Bank of India on 26th August, 2010.
SBI, too, had made some progress in merging with itself two subsidiaries - State Bank of Saurashtra and
State Bank of Indore - but there are still five units left to be merged.
MERGER ; Kotak Mahindra Bank's acquisition of ING Vysya Bank is the country's first ever amalgamation of a profit- earning entity post the 2008 meltdown ; 2 more mergers took place during this time but in different situations ; In 2010, loss- making Bank of Rajasthan was merged with ICICI Bank ;
State Bank of Indore was merged with parent SBI in the same year ; SBI had merged State Bank of Saurashtra in August 2008, just a month before the global meltdown ; Prior to 2008, the other significant mergers that took place include HDFC Bank acquiring Centurion Bank of Punjab in 2008 and IDBI Bank acquiring United Western Bank in 2006
SBI had earlier merged the associate banks State Bank of Saurashtra in 2008, and
State Bank of Indore in 2010.
New Delhi, Dec 16 (ANI): Dissenting the proposed merger of the
State Bank of Indore with its parent State Bank of India (SBI), the bank employess have gone on a one-day nation wide strike today disrupting the normal banking operations.