Monday, April 3, 2017

Do we need to be panic after SBI merger

Do we need to be panic after SBI merger?



Being customer of SBI subsidiaries, do you need to be panic after SBI merger?

You are well aware the on April 01, 2017 State Bank of India has finally merged long awaited merger procedures with its five subsidiary banks. 

You may be a customer of any of six State Bank associate banks such as "State Bank of Travancore (SBT)"; "State Bank of Bikaner and Jaipur (SBBJ)"; "State Bank of Patiala (SBP)"; "State Bank of Hyderabad (SBH)"; "State Bank of Mysore (SBM)" and "Bharatiya Mahila Bank (BMB)" and might be worried about your account status and functionality (whether you have personal or corporate account) especially in case of remittance matter.

Good news is that you need not to worry. This is to be noted that after data merger of above six banks with main State Bank of India (SBI), your account related all information remain the same. As per SBI notification and FAQ section in their website it is observed that they continue to support all your old entries you have created with old SBI associate banks. And everything is working accordingly. Still they (i.e. SBI) seeks three more months to establish complete amalgamation. All previous functionalities along with old banks remain the same and further to be noted that inter-bank transaction charges among SBI and it's associates being waived as all become single entity. 

You will also be redirected to website from your old banks official websites where you need to enter your previous credentials used for logins. Please make sure you have green security lock sign and https before onlinesbi website link in your browsers address bar as precaution for not to be scammed or to prevent any fraudulent activities.

You can also contact your existing branch of old sbi associate for any queries or read SBI FAQ section with this link - click here.


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