SBI to shut down 47% of associate banks' offices post-merger
State financial institution of IndiaBSE -0.62 % (SBI), so that it will see five associate banks merge into it on April 1, has made up our minds to close down nearly half the workplaces of these banks, including the head places of work of three of them. This process will start from April 24. "Out of the 5 head places of work of the affiliate banks, we will preserve best two. Three head offices of the associate banks can be unbound along with 27 zonal offices, 81 regional offices and eleven network workplaces of the affiliate banks," SBI Managing Director Dinesh Kumar Khara instructed IANS in an interview. "we will preserve their structure in position until April 24 and, put up that, we will start dismantling the associate banks' controlling places of work, which incorporates head workplaces, regional places of work, zonal offices and community places of work," Khara mentioned. The five associate banks that will merge with SBI are: SBBJ (Stat...