TNPSC Thervupettagam

10 public sector banks to be merged

August 31 , 2019 1943 days 1538 0
  • 10 public sector banks are going to be merged into four.
  • Canara Bank and Syndicate Bank are going to be merged.
  • Union Bank, Andhra Bank and Corporate Bank are going to be merged.
  • Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and United Bank of India are going to be merged.

  • Indian Bank and Allahabad Bank are going to be merged.
  • In place of 27 public sector banks in 2017, now there will be only 12 public sector banks.
  • The largest of the mergers announced is that of Punjab National Bank with Oriental Bank of Commerce and United Bank.
  • The above said amalgamated entity will become the second-largest public sector bank in India, after the State Bank of India.

 

Leave a Reply

Your Comment is awaiting moderation.

Your email address will not be published. Required fields are marked *

Categories