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No Retrenchment After Merger of Associate Banks with SBI, Says Finance Minister Piyush Goyal

Up to Rs 65,000 crore has been approved for a host of rail infrastructure projects on the suburban network in Mumbai and its surrounding areas, said Railway Minister Piyush Goyal Sunday.

New Delhi, Aug 10: Finance Minister Piyush Goyal today said there was no retrenchment of employees after the merger of five associate banks and the Bhartiya Mahila Bank with the State Bank of India. SBI had a total of 1,56,964 employees as on March 31 this year. Goyal told the Lok Sabha that there was no retrenchment after the merger of the associate banks and the Bharatiya Mahila Bank with the SBI. During the Question Hour, he said that 6,950 branches have merged with SBI post amalgamation of banks.

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State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore and State Bank of Hyderabad along with Bharatiya Mahila Bank have been merged with SBI. The total number of branches, employees and officers of SBI as on March 31, 2017 were 17,170, 1,28,526 and 81,041, respectively. As on March 31, 2018, the count of branches rose to 22,414. The number of employees and officers increased to 1,56,964 and 1,07,077, respectively, the minister said.