Psu Bank Mergers

In the biggest consolidation exercise in the banking space, the government in August 2019 had announced four major mergers of public sector banks.

The Finance Minister said that the process of merger of public sector banks was underway as per the schedule.

Instead, the unions said, ensuring "proper governance in the system" and "removing political interference" will address the problem of NPAs.

Around four lakh bank employees across the country are set to go on a strike on September 26-27 to protest against the merger of public sector banks.

Finance Minister Nirmala Sitharaman will meet the heads of PSU banks on Thursday to discuss merger-related issues and review their preparedness to execute the process

The lenders said that there will no retrenchment of staff in the merged entity.

PNB's board also approved the Rs 18,000 crore capital infusion, as announced by the government last week.

The Nifty PSU Bank Index was down 3.2 per cent underperforming the benchmark Nifty which was down 1 per cent.

Ms Sitharaman also said that loan recovery of PSU banks was at record levels as Rs 1.21 lakh crore was recovered by the banking system.

State-run banks will be merged to form a dozen strong lenders, Finance Minister Nirmala Sitharaman announced on Friday. The Punjab National Bank, Oriental Bank of Commerce and United Bank will merge to form the country's second largest public sector bank with a business of Rs. 17.95 lakh crore, "1.5 times the size of Punjab National Bank". Three mo...

The government has been nudging the state-owned lenders to go for merger so that there can be fewer and stronger banks.

The government is seeking to consolidate the nation's debt-burdened state banking sector.

State-run Dena Bank and Vijaya Bank are a part of Bank of Baroda from today, marking the first-ever three-way merger in India's banking sector. The amalgamation of Vijaya Bank and Dena Bank into Bank of Baroda, first announced in September last year, comes into force from April 1, 2019. The development creates the country's third largest public sec...

After April 1, the number of state-run lenders will come down from 21 to 18 following the amalgamation of three banks.

Under the merger plan, Bank of Baroda said it would issue 110 shares of Rs 2 each for every 1,000 shares of Dena Bank worth Rs 10 each, while Vijaya Bank shareholders would get 402 Bank of Baroda shares of Rs 2 each for every 1,000 shares of Rs 10 each. Last year, the government revealed plans to merge state-run Dena Bank, Vijaya Bank and Bank of B...

In the biggest consolidation exercise in the banking space, the government in August 2019 had announced four major mergers of public sector banks.

The Finance Minister said that the process of merger of public sector banks was underway as per the schedule.

Instead, the unions said, ensuring "proper governance in the system" and "removing political interference" will address the problem of NPAs.

Around four lakh bank employees across the country are set to go on a strike on September 26-27 to protest against the merger of public sector banks.

Finance Minister Nirmala Sitharaman will meet the heads of PSU banks on Thursday to discuss merger-related issues and review their preparedness to execute the process

The lenders said that there will no retrenchment of staff in the merged entity.

PNB's board also approved the Rs 18,000 crore capital infusion, as announced by the government last week.

The Nifty PSU Bank Index was down 3.2 per cent underperforming the benchmark Nifty which was down 1 per cent.

Ms Sitharaman also said that loan recovery of PSU banks was at record levels as Rs 1.21 lakh crore was recovered by the banking system.

State-run banks will be merged to form a dozen strong lenders, Finance Minister Nirmala Sitharaman announced on Friday. The Punjab National Bank, Oriental Bank of Commerce and United Bank will merge to form the country's second largest public sector bank with a business of Rs. 17.95 lakh crore, "1.5 times the size of Punjab National Bank". Three mo...

The government has been nudging the state-owned lenders to go for merger so that there can be fewer and stronger banks.

The government is seeking to consolidate the nation's debt-burdened state banking sector.

State-run Dena Bank and Vijaya Bank are a part of Bank of Baroda from today, marking the first-ever three-way merger in India's banking sector. The amalgamation of Vijaya Bank and Dena Bank into Bank of Baroda, first announced in September last year, comes into force from April 1, 2019. The development creates the country's third largest public sec...

After April 1, the number of state-run lenders will come down from 21 to 18 following the amalgamation of three banks.

Under the merger plan, Bank of Baroda said it would issue 110 shares of Rs 2 each for every 1,000 shares of Dena Bank worth Rs 10 each, while Vijaya Bank shareholders would get 402 Bank of Baroda shares of Rs 2 each for every 1,000 shares of Rs 10 each. Last year, the government revealed plans to merge state-run Dena Bank, Vijaya Bank and Bank of B...