SBI merger, BMB exempt from CCI approval

NEW DELHI: State Bank of India will not need fair trade regulator Competition Commission of India’s approval for merging five associates and Bhartiya Mahila Bank

NEW DELHI: State Bank of India will not need fair trade regulator Competition Commission of India’s approval for merging five associates and Bhartiya Mahila Bank with itself, a move that will create a global sized bank with an asset base of ₹30 lakh crore. The acquisition is exempt from the approval of Competition Commission of India under the Competition Act 2002, sources said.

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