State Bk of Indore merger with SBI

State Bank of India’s takeover of State Bank of Indore has been on schedule, a finance ministry official said on Tuesday.

The boards of SBI and State Bank of Indore agreed on the merger in June.

However, the government has put on hold the merger of SBI’s other associate banks, the official, who declined to be named, said.

SBI has six associate banks and plans to take over all associates eventually.