3.8 C
Alba Iulia
Wednesday, November 20, 2019
No menu items!
  • Government Schemes

Government To Merge 10 Public Sector Banks Into 4 – Big Bank Mergers

Must Read

19 November history of India and world – Historical Events

Let us know some important events of November 19, knowing that...

18 November history of India and world – Historical Events

Let us know some important events of November 18, knowing that...

List of Indian states and their languages – Indian states and their languages

The article provides detailed information on the official languages of India...
Dinesh Kumarhttps://www.gyanshare.in
We’re excited to improve Knowledge for everybody through our product. Gyanshare is always including a knowledgeable substance that makes people visit back again and again for new and latest svengali and jubilate contents.

Finance Minister Nirmala Sitharaman announced a bucket of reforms that will change the way PSBs function in the country. The Indian banking system is dominated by public sector banks and these reforms are bound to have an impact on the entire industry. It may also change the way private lenders look at their peers in terms of competition.

  • Canara Bank and Syndicate Bank to be merged; Union Bank, Andhra Bank and Corporate Bank to be merged
  • Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and United Bank of India to be merged; Indian Bank and Allahabad Bank to be merged

Here are the Highlights of Big Bank Mergers:

  • We want banks with strong national presence and enhanced risk appetite
  • Indian Bank to be merged with Allahabad Bank (anchor bank – Indian Bank)
  • Consolidated Indian Bank and Allahabad Bank to be 7th largest public sector bank with cRs 8.08 lakh crore business ((anchor bank – Indian Bank)
  • PNB, OBC and United Bank to be merged (PNB will be the anchor bank)
  • Union Bank of India, Andhra Bank and Corporation Bank to be merged (anchor bank – Union Bank of India)
  • Consolidated Union Bank of India, Andhra Bank and Corporation Bank to be 5th largest public sector banks with ₹14.6 lakh crore business
  • Canara Bank and Syndicate Bank to be merged
  • Consolidated Canara Bank and Syndicate Bank to be 4th largest public sector bank with ₹15.2 lakh crore business

Among the governance changes, the move to have a separate mechanism for sanctioning and monitoring of big loans will ring-fence the banks against potential frauds. Further, the decision to empower bank boards and operational flexibility in hiring from the market will prioritise robust risk-management practices in decision making.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

19 November history of India and world – Historical Events

Let us know some important events of November 19, knowing that...

18 November history of India and world – Historical Events

Let us know some important events of November 18, knowing that your general knowledge will increase....

List of Indian states and their languages – Indian states and their languages

The article provides detailed information on the official languages of India and the state as the...

Here is why you should avoid eating raw foods – According to Ayurveda

Eating raw foods is one of the most popular diet trends these days. People who...

17 November history of India and world – Historical Events

Let us know some important events of November 17, knowing that your general knowledge will increase....
- Advertisement -

More Articles Like This