The State Bank of India board on Tuesday decided to submit a a proposal to the central government seeking an "in - principle approval" to initiate negotiations with its five associate banks, an official spokesperson said here.
The board of directors discussed the possibility of acquiring its five associate banks - State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore - including their assets and liabilities.
"This discussion is purely exploratory at this stage and not certain, " the spokesperson said.
Additionally, the SBI board also discussed the possibility of acquiring India's first bank targeted to women - the Bhartiya Mahila Bank and it would explore this acquisition after the central government grants its "in - principle approval" to start negotiations.