New Delhi: The Cabinet has approved the consolidation of 10 Public Sector Banks (PSBs) into four ‘mega banks’ from April 1. The Narendra Modi Government had announced the mega merger in August…
New Delhi: The Cabinet has approved the consolidation of 10 Public Sector Banks (PSBs) into four ‘mega banks’ from April 1.
The Narendra Modi Government had announced the mega merger in August last year. As per the plan, United Bank of India and Oriental Bank of Commerce would merge with Punjab National Bank, making the proposed entity the second largest Public Sector Bank. Syndicate Bank will be merged with Canara Bank, and Allahabad Bank with Indian Bank.
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