Paving the way for consolidation in the banking sector,
the Competition Commission of India(CCI) has approved the amalgamation of
Bharatiya Mahila Bank into State Bank of India (SBI).
“Both
the banks offer various banking products to their retail and corporate
customers. However, while SBI has made deep inroads into the interiors
of the country, Bharatiya Mahila Bank has only token presence with four
to five branches in each State,” said the Competition Commission of
India in its order.
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