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Why the SBI merger may accelerate consolidation in India’s banking sector

Reuters

Come April, India will be home to one of the largest banks in the world. The merger of the government-owned State Bank of India (SBI) with its five associate banks will create a behemoth that will be among the top 50 global banks. But the transformation in the Indian banking sector is not just about one bank or its global standing. While SBI’s merger with its associates – State Bank of Travancore, State Bank of Hyderabad, State Bank of Bikaner and Jaipur, State Bank of Patiala and State Bank of Mysore – is a done deal, the focus is now...

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(SBI)

State Bank of India is engaged in providing banking and financial services. It offers personal banking, agricultural, non-resident indian (NRI) services, international banking, automated teller machine (ATM) and corporate banking services. The firm also operates in capital markets, fund management, factoring and commercial services, credit cards and brokerage services. The company was founded in 1806 and is based in Mumbai, Maharashtra. State Bank of India operates as a subsidiary of the Government of India.

(RBI)

The Reserve Bank of India is the central banking system of India. It controls the monetary policy of the rupee as well as currency reserves in India. The firm regulates the issue of banknotes, maintain reserves with a view to securing monetary stability and and operate the credit and currency system of the country. The company was founded in 1935 and is based in Mumbai, Maharashtra.

Fairfax Financial Holdings Ltd. (Markel Financial Holdings Ltd.) is engaged in providing financial services. Its services include property, casualty, and life insurance and reinsurance, investment management and insurance claims management. The company was founded in 1951 and is based in Canada. Fairfax Financial Holdings Ltd. operates as a subsidiary of Zylog Systems Ltd.

Head office:
Toronto
Year Founded:
1951
Website:
Management:
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