This is a simple extension of Iterate over two arrays simultaneously in bash, combined with How to split a string into an array in bash.
IFS=, read -ra sbi_arr <<<"$SBI" # convert SBI string to an array
IFS=, read -ra mem_arr <<<"$MEM" # convert MEM string to an array
out= # initialize output variable
for idx in "${!sbi_arr[@]}"; do # iterate by indices
out+="${sbi_arr[$idx]}_${mem_arr[$idx]}," # append to output
done
out=${out%,} # strip trailing comma from output
echo "Output is: $out"
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solved bash, merge two comma separated variables values to single variable