State Bank Of India has informed the Exchange that "The Central Board of the Bank, at its meeting held at Mumbai on the 31st October 2009, has approved the proposed scheme of acquisition of State Bank of Indore by State Bank of India, including a share exchange ratio proposing allotment of 34 equity shares of State Bank of India, in lieu of 100 equity shares of State Bank of Indore. The said scheme is subject to final approval by Boards of both the banks after the grievances of shareholders are considered, and approval by the Reserve Bank of India and the Government of India, under Section 35 of the SBI Act, 1955."
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