Chief executives of Oriental Bank of Commerce, United Bank of India designated as OSD in PNB
The merger of PNB with OBC and UBI has created the country's second largest state-owned bank with Rs 7.7 lakh crore advances. OBC chief executive Mukesh Kumar Jain, who is now in PNB will be retiring in July. UBI chief executive Ashok Kumar Pradhan will be retiring at the end of May from PNB.
All branches of Oriental Bank of Commerce, United Bank of India start functioning as PNB branches
State-owned Punjab National bank on Wednesd...
Bigger PNB to have edge in getting big corporate customers
The merger of United Bank of India (UBI) and Oriental Bank of Commerce (OBC) with ...
Union Bank becomes 5th largest PSB post merger with Andhra Bank, Corporation Bank
The amalgamation will also strengthen the bank's footprint in southern India with considerable market share in this region, the Mumbai-headquartered lender said. It is also expected to generate cost and revenue synergies to the tune of Rs 2,500 crore over the next three years.
India lockdown day 08 wrap: What you must know
It's not just day 08 of the 21-day India lockdown but also the beginning of a new financial year, and with this few changes have taken place...
Customers won't face any disruption post Allahabad Bank merger: Indian Bank
The merger is part of the government's mega consolidation plan to amalgamate 10 state-run banks to create four global-sized lenders, beginning next financial year.
Mega PSU bank mergers come into effect from April 1. 5 things a bank customer should know
You would have given your bank account numbers and IFSC codes for various financial transactions. Unless these accounts are seamlessly merged into the financial system of the anchor bank, you would be required to change the details of your bank account.
Coronavirus updates, govt measures, FII flows among key factors that may guide Dalal Street this week
Number of coronavirus cases in India is nearing 1,000, evoking fears of community transmission.
Mega merger of state-run banks comes into force from April 1, says RBI
Govt notified the amalgamation of 10 state owned banks into four as part of its plan to create stronger PSBs.
Merger process of Allahabad Bank, Indian Bank might face slight delay: Official
The merger process of Indian Bank and Allahabad Bank could face a slight delay in the wake of the 21-day nationwide lockdown, an official of the Kolkata-based lender said on Saturday.
Functioning of merged entity of PNB, OBC, UBI to be big challenge during lockdown: Official
The merger of UBI and OBC into PNB will lead to the creation of the country's second largest lender after State Bank of India, an official said. "Under the given conditions, the effective functioning of the merged entity will be a big challenge. The government has not given any direction so far in this regard," the UBI official told.
Mega bank consolidation on track; to take effect from April 1: FM Nirmala Sitharaman
Banking Secretary Debasish Panda said the merger process is very much on track and expressed hope that the banking sector would be able to meet the challenges thrown by the pandemic. "That is very much on the track. It's parallel activity going on. As far as fund transfers etc are concerned, necessary arrangements will be made," Panda said.
PSB banks merger: 10 banks to bear the name of 4 anchor banks
The government has also decided to follow the Bank of Baroda-style branding where all the merging bank logos will be displayed for higher customer recall. For example, Indian Bank which is the anchor bank for its merger with Allahabad Bank will retain the name. Its new brand identity will carry the logo of both the banks, chief executive Padmaja Chunduru said.
Indian Bank to retain its name after merger with Allahabad Bank: CEO Padmaja Chunduru
Indian Bank will retain its name after its merger with Allahabad Bank, bank chief executive Padmaja Chunduru said, exuding confidence that merged entity could leverage on the pan-India presence it would have now.
HUL board to meet on April 1 to declare merger with GSKCH
Hindustan Unilever Ltd (HUL) and GSKCH have received approval from the Mumbai and Chandigarh bench of the National Company Law Tribunal, respectively for the merger, HUL said in a regulatory filing.
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