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How many associate banks merged with State Bank of India (SBI) in 2017?

How many associate banks merged with State Bank of India (SBI) in 2017? Correct Answer 5

The correct answer is 5.

State Bank of India:

  • Five of SBI associate banks along with Bhartiya Mahila Bank merged with SBI on April 2017.
  • 3 Presidency banks, Bank of Bombay, Bank of Madras, and Bank of Bengal were merged to form Imperial banks in 1921.
  • The imperial bank was later transformed into the State Bank of India in 1955.
  • SBI associate banks are merged:
    • State Bank of Bikaner and Jaipur
    • State Bank of Travancore
    • State Bank of Patiala
    • State Bank of Mysore
    • State Bank of Hyderabad

Important Points

  • The first nationalized bank in India - SBI under the SBI Act of 1955.
  • Seven subsidiaries bank of State Bank became Nationalized on 19th July 1960. 
  • Seven subsidiaries of SBI are:
    • State Bank of Bikaner and Jaipur
    • State Bank of Hyderabad
    • State Bank of Indore merged in 2009
    • State Bank of Mysore
    • State Bank of Patiala
    • State Bank of Saurashtra merged in 2008
    • State Bank of Travancore
  • SBI chairman: Dinesh Kumar Khara
  • SBI Headquarters: Mumbai

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How many associate banks were merged with the State Bank of India in the year 2017?