Abstract: This study offers a comprehensive examination of the financial performance and shareholder value implications of mergers and acquisitions (M&A) within the Indian banking sector, with a focused case analysis of the State Bank of India (SBI) and its associate banks. By evaluating key financial indicators across pre- and post-merger periods, the research aims to assess the extent to which consolidation has influenced operational efficiency, profitability, and shareholder returns. The methodology employs a robust quantitative framework, utilizing financial ratio analysis and paired sample t-tests to detect statistically significant shifts in performance metrics. These include return on assets (ROA), return on equity (ROE), net profit margins, earnings per share (EPS), and market capitalization trends. The study also considers contextual variables such as integration strategy, regulatory environment, and macroeconomic conditions to interpret the observed outcomes.

Keywords: Mergers and Acquisitions in India, Public Sector Banking Performance,