The associate banks of State Bank of India SBI will see some delay in loan processing and banking services during the month-end, ahead of their merger with SBI.

The Government has already notified that April 1, will be the date for the merger. With this all shares of the associate banks would cease to exist as individual entities and would stand transferred to SBI, according to the gazette notification dated February 22, This will mark the end of business as individual entities of the five associate banks — State Bank of Bikaner and Jaipur SBBJState Bank of Mysore SBMState Bank of Travancore SBTState Bank of Hyderabad SBH and State Bank of Patiala SBP.

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There are also differences among the product offerings of the associate banks and SBI. There is a rush to clear all existing loan proposals and complete disbursals by Best free forex news feed 25 by different agencies that work for associate banks.

Meanwhile, bankers insist that there is no need for panic among customers. Any normal transactions will be hit a little by the annual closing of accounts.

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Ahead of merger with SBI, loan processing and banking services at associate banks may be delayed | Business Line

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