The Telangana government is against the proposedmerger of State Bank of Hyderabad (SBH) with the parent State Bank of India (SBI), state’s finance minister Etela Rajender said on Wednesday.
“SBH should retain its identity. It is a Telangana bank. It has to remain that way,” the minister told PTI. “It was in existence even before 1956... it belonged to the (erstwhile) Hyderabad state... in Nizam’s era.”
“SBH should retain its identity. It is a Telangana bank. It has to remain that way,” the minister told PTI. “It was in existence even before 1956... it belonged to the (erstwhile) Hyderabad state... in Nizam’s era.”
Asked if there was a proposal to pass a resolution in the legislative Assembly opposing the move, similar to Kerala adopting a motion against State Bank of Travancore(SBT)’s merger with SBI, he said he hasn’t yet talked to the Chief Minister K Chandrasekhar Rao on the issue.
“We have to take some decision (in formally opposing SBH’s merger with SBI)”, Rajender said.
The Union Cabinet had recently given its nod for the merger of five associate SBI banks, including SBH and SBT, with the parent lender, along with the Bharatiya Mahila Bank.
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