It has been cleared by the Union Cabinet. The merger is done on the basis of Indradhanush Action Plan.

• The 5 associateds of SBI are: State of Bikaner and Jaipur (SBBJ), State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore and State Bank of Travancore.
• The merger will be done through repealing the SBI (Subsidiary Banks) Act, 1959 and State Bank of Hyderabad Act, 1956 through a legislation.
• The acquisition will be under section 35 of SBI Act.