Hyderabad, May 22: State Bank of Indore would soon merge with the State Bank of India while a decision of five other affiliates would take some time, SBI Group Chairman O P Bhatt, said.
Speaking to mediapersons at the sideline of the inauguration of SBI ‘Point of sale’ (PoS) at GVK Mall here last night, he said there is no proposal to hike interest rate.
The PoS comprises a Credit Card swipe machine which is expected to be installed at various locations in the country, he said.
Bhatt said the bank may not recruit many heads and it is expected a growth of 20 per cent of credit this year.
Bhatt also inaugurated 1,111th branch of SBI at Rajiv Gandhi International Airport at Shamshabad.
–Agencies