All the five branches of associate banks, which are merging with parent State Bank of India, will begin functioning as SBI Branches from April 1.
RBI said in a notification - “Customers, including depositors of State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore will be treated as customers of State Bank of India with effect from April 1, 2017.”
The cabinet had approved the proposed merger of State Bank of India (SBI) and five subsidiaries in February this year.
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