Dear Readers,
Merger of Associates of SBI and Bhartiya Mahila Bank (BMB) on 01st April 2017 with State Bank of India (SBI) was a historic move in the history of India. SBI is not only the largest Public lender of India but also the most reliable and Employment providing organization of the country. The questions based on this topic were also asked in Bank of Baroda (BOB) PO exam. So, the merger of banks in SBI can be the favorite topic in upcoming Banking and Insurance examinations like DENA bank, SBI PO Mains, NICL AO Mains etc. Here is all the relevant information that you must know before appearing the examinations.
- 1st April was the record date in India as the merger of State Bank of India took place (SBI) with five of its associate banks and Bhartiya Mahila Bank. The five associate banks are State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Hyderabad (SBH) and State Bank of Patiala (SBP).
- SBI has rebranded its corporate website as “bank.sbi” from the earlier sbi.co.in.
- The background to the SBI signboard has been changed from white to “inky blue” and SBI will be written in a new font called Effra.
- The designing and rebranding of SBI logo has been done by a company called Design Stack.
- The SBI logo symbolizes its role of a custodian that will keep customers’ money safe.
- With the merger, State Bank of India has entered the league of ‘Top 50 Global Banks’ with a balance sheet size of Rs. 41 trillion. SBI was earlier placed at 54th rank globally but after the merging it moved to 44th position making it in the top 50 leading banks globally.
- The last time such a rebranding exercise was undertaken in 1971, after the government nationalized banks under former Prime Minister’s Indira Gandhi regime.
- Post-merger, SBI’s market share will increase to nearly 22 per cent from 17 per cent.
- After the merger the tagline of SBI has remained same i.e. “Banker to every Indian”.
- The total customer base of the bank reaches 37 crore with a branch network of around 24,000 and nearly 59,000 ATMs across the country. The merged entity now has a deposit base of more than Rs 26 lakh-crore and advances level of Rs 18.50 lakh crore.
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