Which public sector banks are going to merge?

Six PSBs were amalgamated with four public sector banks with effect from April 1, 2020. Oriental Bank of Commerce and United Bank of India were merged with Punjab National Bank; Andhra Bank and Corporation Bank with Union Bank of India; Syndicate Bank with Canara Bank; and Allahabad Bank with Indian Bank.

Which banks are merging in 2020?

Punjab National Bank (PNB) took over Oriental Bank of Commerce and United Bank of India; Allahabad Bank became part of Indian Bank; Canara Bank subsumed Syndicate Bank; and Andhra Bank and Corporation Bank merged with Union Bank of India.

Which bank will merge in 2021?

As of today, India has 12 Public Sector Banks, including Bank of Baroda and State Bank of India….List of Merged Banks in 2021.

Is central bank going to merge?

Announcing that the Narendra Modi government has no plans to merge more public sector banks, Union Finance Minister Nirmala Sitharaman on Monday informed that there hasn’t been any proposal in this regard. During her Budget 2021 Presentation, she had announced that two banks will be privatized.

Which banks are joined together?

*State Bank of India was merged with its associate banks and Bharatiya Mahila Bank in 2017….List of Merged Banks in 2021.

Is UCO Bank getting merged?

What’s also noteworthy is the fact that the government has announced capital infusion worth more than 55,000 crore into public sector banks (PSBs)….Corporation Bank and Andhra Bank with Union Bank of India.