SBI subsidiaries gain 20% after merger approval
Shares of State Bank of India (SBI) subsidiaries State Bank of Travancore, State Bank of Bikaner and Jaipur, and State Bank of Mysore gained nearly 20% after the Cabinet approved the merger of five associate banks with the country’s biggest lender. State Bank of Mysore hit upper circuit after gaining 20% to settle at ₹547.90, while, SBI gained nearly 4%.