Merger of subsidiaries is a onetime cost for creation of Provident Fund of Rs 30bn. The cost to income ratio of merged entity stands at 50% which the management expects to come down to 45% over three year time frame. This will be driven by branch rationalisation; economies of scale, removal of duplicationofvariousdepartmentliketreasury. Rationalisation of deposit cost in line with parent bank as associate use to...