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BUZZ-India's SBI rises on cabinet approval of planned merger with subsidiary banks
February 16, 2017 / 4:14 AM / in 8 months

BUZZ-India's SBI rises on cabinet approval of planned merger with subsidiary banks

** Shares of State Bank of India rise as much as 2.99 pct

** India’s federal cabinet approved SBI’s planned merger with five subsidiary banks, Finance Minister Arun Jaitley said on Wednesday

** SBI will merge with State Bank of Bikaner and Jaipur , State Bank of Hyderabad, State Bank of Mysore , State Bank of Patiala and State Bank of Travancore

** State Bank of Bikaner and Jaipur surges as much as 11.22 pct to a record high, State Bank of Mysore climbs as much as 10.15 pct and State Bank of Travancore jumps as much 8.32 pct

** State Bank of India is top pct gainer on the NSE index

** Nifty PSU Bank index up 1.3 pct

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