Finance Minister Nirmala Sitharaman yesterday announced the merger of 10 public sector Banks into four entities. The first merger, that of Punjab National Bank, Oriental Bank of Commerce and United Bank will create a super-bank named Punjab National Bank. This will be the second-largest public sector Bank in India, after the State Bank of India….
Ten public sector banks to be merged into four
August 31, 2019New Delhi: The Union Government yesterday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders as it looks to boost economic growth from a six-year low. Finance Minister Nirmala Sitharaman announced four new set of mergers — Punjab National Bank, Oriental…
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