Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT RATES :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: cpt :: form 3cd :: empanelment
 
 
« Mergers and Acquisitions »
 Indian Steel Tycoon Hires StanChart Banker to Lead M&A
 Deals of the day-Mergers and acquisitions Nov 14, 2017
 Largest cybersecurity M&A deals in 2017
 State Bank of India eyes profitable expansion outside home
 Deals of the day-Mergers and acquisitions Nov 6, 2017
 Large merger and acquisitions back in Indian pharma
 RBI norms may spur digital wallet mergers
 How Indian businesses are evolving M&A strategies
 Deals of the day-Mergers and acquisitions Nov 3, 2017
 Ease of doing business in India remains a major concern: Airtel’s Sunil Mittal
 Mergers and Acquisitions hit by demonetisation, GST roll out

Merger to happen by March
November, 16th 2009

State Bank of India and its associate State bank of Indore merger is expected to be complete by march 2010.

The board of directors of State bank of Indore has approved the acquisition of the bank by State bank of India under section 35 of the SBI Act,1955. RBI has also given its nod to the proposed merger. The merger awaits the Centre's consent.

The merger of the two banks entails lot of procedures besides merger of data and balance sheets. Matters concerning post-merger seniority levels, promotions and those related to trade unions and their demands also need to be addressed.

SBI has already decided the share swap ratio for the merger according to which 34 SBI equity shares of Rs. 10 each would be provided in lieu of 100 SBIN equity shares of Rs. 10 each.

A grievance redressal mechanism has also been set up for SBIN shareholders in case they have any objection related to the share swap ratio.

Bank employees are unhappy with the consolidation in the industry. Around 4 lakh officers and employees have decided to go on a strike on 16th December to protest against the proposed merger of State bank of Indore with its parent company, State bank of India and other possible mergers in the industry.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions