Categories: Business

Government of India announced the Merger of 10 PSU Banks

At a press conference today at New Delhi, India’s finance Minister Nirmala Sitharaman announced the merger of 10 private sector undertaking banks. These 10 PSU banks now merged to form 4 larger banks.

Here is the list of 10 PSU banks that merged to form 4 Megabanks

Oriental Bank of Commerce and United Bank of India merged into Punjab National Bank to form the second-largest PSU bank in India. That means from today on, PNB will manage all customers of OBC and UBI banks. The merger of these three banks now has a business worth of around Rs 18 Lakh crore.

The second one is the merger of Canara Bank and Syndicate bank. The incorporation of these two banks now has the business worth Rs. 15.20 lakh crore that makes it the 4th largest PSU bank in India.

The third one is the merger of Indian Bank to Allahabad Bank that makes them the seventh-largest PSU bank in India with total business worth Rs 8.08 lakh crore.

Last but not least is the merger of Union Bank of India with Andhra Bank and Corporation Bank to form the fifth largest PSU bank in India.

India now has a total of 12 Public Sector Banks earlier, which was 27 in total.

Sanjay Kumar Monu @sanjaykumarmonu

Techie who always navigating around the web morphing things. Believe in to build quality Stuff. Building a Legacy right now. Love Dark Movies. A Peacekeeper.

Recent Posts

You can now book movie tickets online via Amazon

Amazon India has finally give their users the option to book movie tickets online. Amazon has partnered with BookMyShow to…

3 weeks ago

How to apply for Duplicate Pan Card Online? (Both NSDL and UTITSL)

In this article, I am going to explain you to How to apply for Duplicate Pan Card Online from either…

1 month ago

Supreme Court of India has got Four New Judges Today

Today Supreme Court of India has got four new Judges. So far, there were 30 Judges in the Supreme Court…

2 months ago