New decision regarding government banks - AB TAK NEWS


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Friday, 30 August 2019

New decision regarding government banks

          New decision regarding government banks

Image result for bank merger india

UBI Bank and OBC Bank merge into PNB Bank

Taking a major step towards strengthening the public sector banks, the government on Friday announced the merger of 10 banks to form four big banks, after which the number of public sector banks in the country will be reduced to 12. Finance Minister Nirmala Sitharaman at a press conference here  Told that Oriental Bank of Commerce and United Bank will be merged with Punjab National Bank

Similarly, Syndicate Bank will be merged with Canara Bank and Allahabad Bank will be merged with Indian Bank, Andhra Bank and Corporation Bank will be merged with Union Bank. 
He said that after the completion of the black processes, the number of state-run banks in the country will come down to 12. In 2017, there were 27 state-owned banks in the country. The Finance Minister assured that despite the merger, the bank employees will not be laid off. In the year 2017, Modi government merged its five subsidiary banks with State Bank of India, followed by Vijay Bank  Dena Bank's Bank of  Baroda in public areas after the completion of these procedures  State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank, Indian Bank, Bank of India, Central Bank of India, Indian Overseas Bank, Punjab & Sind Bank.Bank of Maharashtra and UCO Bank will remain in public sector.

Merger of these banks

merge 1:. 

Punjab National Bank, Oriental Bank of Commerce ,and United Bank of India second largest bank business 17. 95 lakh crores rs.
Merge 2 :.  

Canara Bank and Syndicate Bank fourth largest bank business Rs 15.20 lakh crore rs.
Merge. 3 :. 

Union Bank ,Andhra Bank ,and Corporation Bank fifth largest bank business 14 . 6 lakh crore rupees
Merge 3:.  

Indian Bank ,Allahabad Bank, seventh largest bank business Rs 8.08 lakh crore.

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