State Bank of India is merging 5 associate banks with it and one of the Bharatiya Mahila Bank (BMB), the Indian giant financing firm said that it would start the process from 1st of April, 2017.

However, the integration of the six bank will be finished in three months, as per the alleged by the reports. More than 1,500 branches will be closed due to duplication. The government has given the approval to merge the 6 banks with the SBI.

SBI MD Rajnish Kumar said, "SBI has sought three-month time from RBI for the merger. It should be done by that timeframe."

Rajnish further added, "There are many duplications and they need to be rationalized. About 1,500-1,600 branches have to be rationalized. The closure could be of SBI or associate bank depending on location."

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